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On Tuesday, Brazilian Real deposits on the major cryptocurrency exchange Binance were once again accepted through the Pix system of the federal government. After ending cooperation with the regional payment gateway Capitual, which had managed Binance's deposits and withdrawals via Pix since 2020, the business ceased using Pix for deposits and withdrawals on June 17.
Brazilian Payment System Latam Gateway
In place of Capitual, Binance is now working with the Brazilian payment system Latam Gateway, which connects to the Pix network through bank accounts managed by BS2, a bank authorized by the Central Bank of Brazil (BC). When the two parties broke off their relationship, Binance announced it would sue Capitual without further details. At the same time, Capitual said it would sue Binance because the former had broken a BC legislation that required the exchange to single out customer accounts. The "Bitcoin Pharaoh," also known as Glaidson Acácio dos Santos in Brazil, is reportedly being held for allegedly heading a criminal organization promoting cryptocurrency Ponzi schemes, according to Folha de S.Paulo. This company had one of Capitual's founders as a partner. The So Paulo Court of Justice (TJSP) blocked 451.6 million Brazilian Reals ($84.6 million) from Capitual's accounts, which would have belonged to Binance customers, according to a report in the local daily Valor Econômico on Sunday. Binance asserted in a statement that Capitual's "activities are inconsistent with its ideals" and that it "has taken all necessary and suitable precautions about Capitual to protect users and their resources and ensure that they are not adversely affected by the change" of payment processor.