The request was made public on Wednesday, June 21, 2023, by Deputy Alfredo Gaspar, a member of the Parliamentary Commission of Inquiry (CPI) on Financial Pyramids. However, the summoning request is subject to a vote by the other members of the CPI, scheduled for June 27, 2023.
Deputy Alfredo Gaspar specifically mentioned Binance’s involvement with pyramid schemes such as Ever Operations and Investments and Braiscompany, which has drawn attention and raised the need for further investigation. Gaspar also highlighted the importance of understanding Binance’s business practices, its relationship with B Fintech, and its association with companies facing lawsuits for harming Brazilian consumers. These factors directly link Binance to the ongoing investigation.
If the request is approved, Guilherme Haddad would be required to participate in a debate at the Brazilian Chamber of Deputies, the lower chamber of Congress in Brazil.
This development comes at a time when cryptocurrency exchanges are facing increased regulatory scrutiny worldwide. Binance, in particular, has been the subject of lawsuits and investigations by authorities in the United States, France, the Netherlands, and now Brazil.
Moreover, Binance has previously faced pressure from Brazil’s regulatory body, the Comissão de Valores Mobiliários (CVM), which is equivalent to the United States Securities and Exchange Commission (SEC). The CVM had urged Binance to discontinue offering Bitcoin futures contracts to Brazilian consumers, as reported by Portal do Bitcoin.
Furthermore, the Federal Police and the Federal Prosecutor’s Office in Brazil are currently investigating Binance for its alleged assistance to clients in circumventing a stop order on investments in bitcoin derivatives.
In a separate development, Binance has reportedly initiated the operation of nodes on the Bitcoin Lightning Network, aligning with its strategic objective of establishing seamless deposits and withdrawals. Binance confirmed this in a tweet on June 20, 2023, responding to users who had noticed their newly implemented Lightning nodes.
Also Read: Japan Moves to Tighten Crypto Rules as Market Expansion Push Continues
Congressional probe recommended charges
In October 2023, Brazil’s congressional committee released a 508-page report recommending that authorities investigate and potentially indict Binance executives, including Changpeng Zhao and local executives. The committee raised allegations including fraudulent management, operating without adequate authorization and offering financial products without the required approval.
The recommendations, however, were not equivalent to criminal convictions or final charges. They were referred to Brazilian authorities for further action.
Binance rejected the allegations, saying it had cooperated with the congressional inquiry and objected to what it described as unsupported accusations against the company and its employees.
Brazil is tightening controls on crypto
The Central Bank has been introducing rules for crypto service providers as it takes over a larger role in supervising the sector. Brazil’s Crypto Travel Rule requires identifying information to accompany virtual-asset transfers. The first phase began in February 2026 for domestic transactions, with the framework scheduled to expand to cross-border transactions in 2027.
Brazil has also introduced additional anti-fraud controls. In August 2026, the Central Bank began requiring crypto transactions above roughly $10,000 to be held for up to 24 hours so providers can conduct additional risk checks. The measure is aimed at preventing fraud and money laundering, although industry representatives have argued that it could hurt liquidity and push some activity toward less regulated channels.
For Binance, these measures mean that its compliance infrastructure in Brazil is becoming increasingly important as the company expands its regulated presence.
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