Brazil: Binance Suspends Transactions Blaming Central Bank Policy

Source: NDTV [India]

“Binance crypto exchange has decided to suspend the withdrawals and deposits in the Brazilian currency of Reals in the southern American nation. At this moment, Binance has also suspended its partnership with the Brazilian government’s payment system called Pix. In another deal suspension, Binance has terminated its contract with the local payment gateway called Capitual, for a year and eight months. This platform operated Binance’s deposits and withdrawals via Pix. In a blog post, Binance has cited instability in facilitating transactions due to the financial policies released by the Central Bank of Brazil (BC).” (06/20/22)