On Friday, the global crypto exchange Binance halted deposits and withdrawals in Brazilian reals via the government’s Pix payment system. In a statement, the business said it had ended its cooperation with Capitual, a local payment gateway handling Binance’s payments and withdrawals via Pix for the previous year and eight months. Binance advises users on its platform that deposits via Pix are experiencing volatility due to a regulatory change by the Central Bank of Brazil (BC) but did not provide any details. Pix Providers to Implement New KYC The service outage occurs as the BC’s deadline for Pix providers to implement new KYC (know your customer) regulations approaches. “Binance will replace Capitual with a local payments supplier with substantial experience, which will announce soon,” the business said, adding that it will sue Capitual. According to the company, Binance is acquiring local brokerage Sim;paul, which has already been approved by the Central Bank and the Securities and Exchange Commission. Withdrawals and deposits made using Pix can take up to 72 hours to clear, according to Binance. Users can still conduct peer-to-peer deposits and withdrawals, according to the business. KuCoin, which collaborates with Capitual, announced a modification in its KYC procedures this week. Users in the South American country have been sent to Capitual’s website to complete their identification verification.The post Binance Changes...
