Brazil Orders Crypto Exchange Binance to Halt Derivatives Trading

[Riya143]

Brazil’s Securities and Exchange Commission (CVM) has ordered Binance to stop offering its derivatives products in the country.

In a Declaratory Act published on July 2nd, Brazil’s superintendent of relations with markets and intermediaries says Binance’s derivative offerings are prohibited within the country. In Brazil, derivative contracts are classified as securities even if the underlying assets are cryptocurrencies.
Read more: https://dailyhodl.com/2020/07/08/brazil-orders-crypto-exchange-binance-to-halt-derivatives-trading/

[@chison]

Government having regulator oversight on crypto trading is not ideal for crypto. INJECTIVE PROTOCOL exchange is designed to eliminate this because traders can trade derivatives P2P on the platform