Binance is in the sights of the Central Bank of Uruguay
The organization from Uruguay called the cryptocurrency exchange to appear for offering an investment with savings characteristics
The cryptocurrency platform Binance was summoned by the Central Bank of Uruguay to appear about the cryptocurrency investment service, which has “saving characteristics”.
The reports shown by the local newspapers assure that the exchange was called so that “it can formulate its defenses and articulate its defense” before the Superintendency of Financial Services.
“It is appropriate to warn those responsible for the activity under the name of Binance that they should not carry out the aforementioned advertising. The call to the general public for the application of their savings can only be done in the authorized form for collection through financial intermediation institutions authorized to collect deposits in the market or as an issuer registered in the stock market registry,” says part of the summons.
In Uruguay there is no specific regulation for cryptocurrencies, but last year the BCU was preparing a project to create laws in this regard. In May, it disclosed a preliminary bill, but the text has not yet had legislative progress.
K. Tovar
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Source: Bloomberg
