Latam Gateway, Binance's partner in Brazil, has been licensed to operate as an electronic money issuer and payment institution.
to offer crypto purchases, as well as enable deposits and withdrawals in the local currency. Coinbase has been in the country since 2021, when it established a tech hub to offer crypto services to Brazilians.being investigated for allegedly helping clients evade a stop orderIn 2020, the Brazilian Securities and Exchange Commission issued a stop order on crypto derivatives. Futures contracts are considered securities under local law, regardless of the nature of the underlying assets.
According to documents from the local probe, Binance's platform displayed instructions for Brazilian users to change their language settings in order to access the Binance's Futures section. Additionally, the SEC said there was extensive Portuguese-language content available without a restriction notice for Brazilian users. Canadian and American securities regulators have conducted similar investigations against the crypto exchange.
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