Banco Capitual, Binance’s withdrawal and deposit partner in Brazil, commented on the concerns worried Brazilian investors last Friday (17). This is because many, when they were looking for the platform to redeem values, received the message of “maintenance”.
In this way, it became clear that bank transfers to Binance were stalling. When withdrawing withdrawals, Binance didn’t explain much about the issue and just said it was under maintenance.
In a note to live coins, the broker said he is about to change his current payment partner in Brazil, namely Capitual. It is not clear who the company will be, but it is possible that it will be Sim;paul, a company that has been cleared by the CVM and the Central Bank of Brazil to operate, but has not yet fully merged into Binance.
“The exchange emphasizes that it will promote a smooth transition in the coming weeks and that it is taking all necessary steps, including legal ones related to Capitual, to ensure that users are not adversely affected by the change.”
In July 2021, Banco Capitual also applied for permission from Bacen, an institution that operates in 48 countries and considers itself the first hybrid bank in Brazil to offer traditional and cryptocurrency services. The partnership with Binance lasted for a few years and surprised the Brazilian market with its unexpected termination.
What does Banco Capitual say about withdrawal problems on Binance?
In a note to live coinsBanco Capitual said it will continue to operate normally in partnership with KuCoin and Huobi, but is awaiting the resolution to allow withdrawals from Binance again.
In the past 45 days, the platform has been adapted to a decision of the Central Bank, which took effect on June 16, 2022.
†Capitual informs that the services provided to the international exchanges with which it has a partnership are operating normally. In response to a decision by the Central Bank, Capitual has spent the past 45 days adapting its technology platform to strengthen controls and increase security in operations with cryptocurrencies. This adequacy came into effect on the last day 16/6.
The partner exchanges KuCoin and Huobi have adapted their systems to the changes that have taken place on the Capitual platform and the services provided to their users in transactions with reais happen regularly. In the case of Binance, Capitual is awaiting information on this eligibility.
Capitual bases its activities on compliance with legislation and requests from regulatory authorities and is committed to measures to combat money laundering and the financing of illegal activities in the cryptocurrency market. In this way, it understands that the requirements of regulatory bodies, such as the Central Bank, are mandatory for its operation and those of its commercial partners.†
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.