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Binance continues to deposit in local currency with Brazilian payment system Pix

Global crypto exchange Binance resumed Brazilian real deposits through the government’s Pix payment system on Tuesday.

Withdrawals will resume “shortly,” said the company, which suspended that feature on June 17.

This article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil’s leading financial news publications. Follow CoinDesk Brasil on Twitter.

Real Brazilian withdrawals via Pix remain suspended and will resume “shortly,” Binance told CoinDesk in a statement.

On June 17, the company suspended deposits and withdrawals through Pix after terminating its partnership with local payment gateway Capitual, which has been operating Binance deposits and withdrawals via Pix since from 2020.

Replacing Capitual, Binance now works with Brazil’s Latam Gateway payment platform, using bank accounts hosted by BS2, a bank licensed by the Central Bank of Brazil (BC) for access to Pix network.

In severing the relationship, Binance said it would take legal action against Capitual without providing further details, while Capitual announced that it would sue Binance for its failure to comply with BC regulatory requirements. require the exchange to separate user accounts.

According to the newspaper Folha de S.Paulo, a company with one of the founders of Capitual as a partner allegedly helped launder money for Glaidson Acáio dos Santos, known in Brazil as the “Bitcoin Pharaoh”, who is being arrested for allegedly leading a criminal organization responsible for promoting crypto-related Ponzi schemes.

On Sunday, local newspaper Valor Econômico reported that the São Paulo Court of Justice (TJSP) had blocked 451.6 million Brazilian reais ($84.6 million) from Capitual’s account, which would have belonged to a client. by Binance.

In a statement, Binance said that “Capitual’s actions conflict with its values” and ensured that it “has taken all necessary and appropriate measures regarding Capitual to protect users.” their users and resources and ensure that they are not adversely affected by the payment provider’s change”.