The global woes of crypto trading platform, Binance Holding Limited continue as the platform has been slammed with a fine of $1.7 million for derivatives trading violations in Brazil.
The platform will pay $1.7 million to the Brazilian Securities and Exchange Commission (CVM) as a settlement following an investigation into its unauthorized derivatives trading in the South American country.
The development was announced by CVM via an official statement on its website on Wednesday , August 14, 2024 spelling out the details of the case and the amount Binance is expected to pay.
