Share this article
Binance Suspends Withdrawals and Deposits in Brazil Following New Central Bank Policy
The suspension applies to transfers made via the government's payment system Pix.
By Paulo Alves
Updated May 11, 2023, 5:44 p.m. Published Jun 17, 2022, 11:03 p.m.
Make us preferred on Google
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.
Global crypto exchange Binance suspended deposits and withdrawals in Brazilian reals through the government's payment system Pix on Friday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
The company announced in a statement that it terminated a partnership with the local payment gateway Capitual, which operated Binance’s deposits and withdrawals via Pix for a year and eight months.
On its platform, Binance informed users that deposits via Pix are experiencing instability due to a policy change made by the Central Bank of Brazil (BC), without providing further details.
The service blockage coincides with the end of a deadline imposed by the BC for Pix providers to implement new KYC (know your customer) requirements.
“Binance will replace Capitual with a local payments provider with extensive experience, which will be announced soon,” the company stated, adding that it will take legal action against Capitual, without providing further details.
Binance is in the process of acquiring local brokerage Sim;paul, which has already been authorized by the Central Bank and the Securities and Exchange Commission, the company added.
Binance informed its users that withdrawals and deposits through Pix can take up to 72 hours to be cleared. The company added that users can still make peer-to-peer deposits and withdrawals.
This week, KuCoin, which also works with Capitual, announced a change in its know-your-customer (KYC) policies. The company started redirecting its users in the South American country to Capitual's website to complete their identity verification.
This article was translated by Andrés Engler and edited by CoinDesk. The original Portuguese can be found here.
More For You
KuCoin captured a record share of centralised exchange volume in 2025, with more than $1.25tn traded as its volumes grew faster than the wider crypto market.
What to know:
- KuCoin recorded over $1.25 trillion in total trading volume in 2025, equivalent to an average of roughly $114 billion per month, marking its strongest year on record.
- This performance translated into an all-time high share of centralised exchange volume, as KuCoin’s activity expanded faster than aggregate CEX volumes, which slowed during periods of lower market volatility.
- Spot and derivatives volumes were evenly split, each exceeding $500 billion for the year, signalling broad-based usage rather than reliance on a single product line.
- Altcoins accounted for the majority of trading activity, reinforcing KuCoin’s role as a primary liquidity venue beyond BTC and ETH at a time when majors saw more muted turnover.
- Even as overall crypto volumes softened mid-year, KuCoin maintained elevated baseline activity, indicating structurally higher user engagement rather than short-lived volume spikes.
More For You
Michael Saylor's Strategy catches a break from MSCI, but analysts caution fight isn’t over yet
MSCI won’t drop firms like Strategy from indexes yet, but a broader rule change may still be on the table
What to know:
- Shares of Strategy rose 6% after MSCI decided not to exclude digital asset treasury firms from its indexes.
- The decision alleviates immediate pressure on companies holding large amounts of bitcoin but not directly operating in the blockchain sector.
- Analysts caution that the situation may not be resolved, as future MSCI rule changes could still impact firms like Strategy.
Top Stories
