The Central Bank of Brazil is concentrating this Tuesday (27) around the Financial Stability Committee (Comef). However, a BCB regulatory director marked space in his agenda to receive members of the Binance Brazil.
Otávio Ribeiro Damaso is Director of Regulation at the Central Bank of Brazil, with a mandate until December 31, 2024. And since the BCB is on a mission to regulate cryptocurrency brokers operating in BrazilSeveral companies in the crypto market have contacted the regulator.
It is still unclear what the topic will be next Tuesday between Binance and the Central Bank of Brazilas the event is closed.
Binance Brasil team heads to Brasilia to meet with central bank regulator
Among those confirmed in Brasilia is Guilherme Haddad Nazar, the current CEO of Binance Brasil and Regional Vice President for Latin AmericaIn other words, the largest regional board of the broker must participate in the discussions, even if the topic is not yet publicly clear.
Other Binance executives expected to attend the meeting include Thiago Sarandy, Regulatory Managerand Renan Cruvinel, Binance Compliance Manager.
But the managers must be accompanied by two lawyersFernando Gomes and Fernão Mesquita, associates at Pinheiro Neto Advogados.
It is worth emphasizing that the Director of Regulation of the Central Bank of Brazil is in a position directly linked to the President of the BCB. However, It has not been confirmed that Roberto Campos Neto will attend the meeting with representatives from the largest brokerage by volume in Brazil.
The meeting, scheduled for Tuesday evening (27), would duration of 50 minutesbetween 6:30 PM and 7:20 PM.
Binance Dominates Trading Volume in Brazil
This is evident from a study by Livecoins in Crypto marketa tool that displays Brazilians’ trading volume on brokers using the Brazilian Real (BRL) pair in real time, Binance set itself apart from the competition earlier this week.
Because the data shows that the broker controls more than 40% of trading volumeit is clear that Binance still dominates the preference of Brazilians.
I.e, Investors active in the brokerage remain alert to the innovations and regulatory aspects that permeate the company’s operations in the countryFor example, the new meeting with the central bank may soon bring changes, as the local government is responsible for complying with Law 14.478/2022.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
