Bloomberg reported that the Brazilian Congressional Committee has recommended the prosecution of four senior leaders of Binance, including its founder and CEO Zhao Changpeng. The committee accused Zhao and three local Binance executives of fraudulent management, issuing or trading securities without prior authorization, and operating financial institutions without authorization. Legislators also recommended that the Brazilian Securities Regulatory Agency (CVM) investigate Binance's derivatives sales behavior after receiving a cease and desist order. The committee stated in its final report that these ongoing transactions "repeatedly violate securities market rules."
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Brazilian Congressional Committee recommends prosecution of Changpeng Zhao and other Binance executives
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