{"id":36039,"date":"2024-08-15T08:03:18","date_gmt":"2024-08-15T08:03:18","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/binance-reaches-1-7-million-settlement-with-brazils-securities-commission\/"},"modified":"2024-08-15T08:03:18","modified_gmt":"2024-08-15T08:03:18","slug":"binance-reaches-1-7-million-settlement-with-brazils-securities-commission","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/binance-reaches-1-7-million-settlement-with-brazils-securities-commission\/","title":{"rendered":"Binance Reaches $1.7 Million Settlement with Brazil&#8217;s Securities Commission"},"content":{"rendered":"<p><b>(Originally posted on : Crypto News &#8211; iGaming.org )<\/b><br \/>\n<\/p>\n<div>\n<p><a href=\"https:\/\/igaming.org\/cryptocurrencies\/binance\/\">Binance<\/a>, the world\u2019s largest cryptocurrency exchange, has agreed to pay 9.6 million reais ($1.76 million) to the Brazilian Securities and Exchange Commission (CVM) to settle a probe into its unauthorized derivatives offerings in the country. The settlement comes after the CVM previously rejected Binance\u2019s proposal of 2 million reais ($370,000) in August 2023.<\/p>\n<p>The agreement was finalized on February 15, 2024, after negotiations between Binance and the Term of Commitment Committee (CTC). The CVM confirmed the settlement in a statement released on Wednesday. The payment closes an investigation into Binance\u2019s operations in Brazil, where the company was found to have offered derivatives trading services without the necessary licensing.<\/p>\n<p>The issue dates back to July 2020, when the CVM ordered Binance to stop offering derivatives in Brazil, stating that the exchange was not authorized to operate as a securities intermediary. Binance was also threatened with a daily fine of 1,000 reais if it continued its unauthorized services.<\/p>\n<p>In its settlement terms, the CVM pointed out that Binance had been involved in the \u201cdistribution and mediation of operations with securities offered to citizens residing in Brazil without being a member of the securities distribution system and without obtaining the necessary registration or exemption from registration with the CVM.\u201d<\/p>\n<\/p><\/div>\n<p><a href=\"https:\/\/igaming.org\/crypto\/binance-reaches-1-7-million-settlement-with-brazils-securities-commission\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : Crypto News &#8211; iGaming.org ) Binance, the world\u2019s largest cryptocurrency exchange, has agreed to pay 9.6 million reais ($1.76 million) to the Brazilian Securities and Exchange Commission (CVM) to settle a probe into its unauthorized derivatives offerings in the country. The settlement comes after the CVM previously rejected Binance\u2019s proposal of [&hellip;]<\/p>\n","protected":false},"author":34,"featured_media":36040,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36039"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=36039"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/36039\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/36040"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=36039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=36039"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=36039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}