Changpeng Zhao and other Binance executives facing possible indictments in Brazil

A Brazilian congressional committee alleged . “that Zhao and the other executives have engaged in fraudulent management, offering or trading of securities without previous authorization, and operation of a financial institution without authorization.”

Sounds similar to SEC suits within the US for “unregistered securities”, with the exception that Brazil is recommending criminal charges here – quite a charge to bring the leaders of the world’s largest exchange.