Binance, currently recognized as the world’s largest cryptocurrency exchange by trading volume, has found itself in the crosshairs of numerous regulatory bodies recently, particularly those in the United States. The lawsuit launched by the SEC against Binance and its CEO for allegedly violating securities laws has had a significant impact on the markets and the crypto ecosystem.
Potential Summon of Binance Executive to Testify
However, a striking development for Binance following the SEC lawsuit occurred in Brazil. According to Decrypt, Member of Parliament Alfredo Gaspar, a member of the Parliamentary Inquiry Commission (CPI) on Financial Pyramids, has requested that Guilherme Haddad, the Binance Brazil Director, be summoned to testify in the Brazilian Parliament.
This request, published on Wednesday, June 21, is part of an ongoing investigation into alleged pyramid schemes operating in the country. The request made by the MP needs to be voted on by other members of the CPI. The vote on the said request is expected to take place on June 27.
Vote Scheduled for June 27
The request made by MP Alfredo Gaspar to summon Binance Brazil Director Guilherme Haddad to testify in the Brazilian Parliament will be voted on June 27. According to Brazilian news site Portal do Bitcoin, if the vote is approved, Guilherme Haddad, the Binance Brazil Director, will appear before the lower house of Congress, the Brazilian Chamber of Deputies.
According to a report previously published by the Brazilian news site Portal do Bitcoin, the Brazilian counterpart to the U.S. Securities and Exchange Commission (SEC), Comissão de Valores Mobiliários (CVM), is pressuring Binance to cease offering Bitcoin futures products to Brazilian customers.
