Brazil will study Binance’s links with financial pyramids


The Pyramid Investigation Commission of the Brazilian Chamber of Deputies will vote to summon the head of the local Binance division to testify. It is reported by Portal Do Bitcoin.

The corresponding request was submitted by the deputy Alfredo Gaspar. The regional manager of the bitcoin exchange in the country is Guilherme Haddad Nazar, the nephew of the current finance minister Fernando Haddad.

According to the deputy, pyramid schemes Ever Operations and Investments and Braiscompany used the crypto trading platform to move their assets. The legislator recalled that Binance is facing regulatory challenges in the US, Japan, China, Germany, the UK and Brazil.

“Therefore, we can conclude that Binance is closely intertwined with the topic of our commission, and it is important to understand the work of the exchange in the country, its relationship with B Fintech, as well as its connection with companies that are sued for harming Brazilian consumers,” Gaspar said.

Binance said they expect to be called to the commission of all crypto trading platforms related to the interest of the parliamentary commission.

“Given that scammers operate on several exchanges at the same time, Binance has helped the authorities most in the investigations and the victims in the return of funds,” the publication quotes the company as saying.

The exchange claims to have assisted the police in a case against GAS Consultoria founder Gladeson Acasio dos Santos. He was arrested in August 2021 during Operation Kryptos.

“Another example is Braiscompany. Although federal prosecutors named several exchanges involved in the scheme, Binance was the only one whose assistance in the investigative work was officially recognized by the authorities, ”the company noted.

Recall, according to Reuters analysts, from 2017 to 2021, attackers laundered at least $2.35 billion of funds obtained illegally through Binance.

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