Mercado Bitcoin Requested By Brazilian Regulator To Clarify Token Information
Mercado Bitcoin acknowledged receiving a request from Brazil’s securities and exchange (CVM) regulator linked to its fixed-income token sale, as reported by local news site Estado yesterday.
The company said in a Portuguese-language statement:
“We do not carry out a public offering of securities outside the scope of the authorizations we have as an authorized crowdfunding and investment management platform.”
Mercado Bitcoin, which provides over 200 different types of digital assets to its over 3.8 million clients, had total transactions of more than 40 billion reais in 2021 (about $7.44 billion at today’s currency rate).
“In relation to the so-called non-security tokens (tokens that do not represent securities), we take due care not to infringe on the scope of action of authorized entities, including consulting the regulator in advance about the structure used for such tokens, at the beginning of our operations in 2020″
The CVM did indicate that if it detects transactions involving prospective securities, it will request more information.
The CVM stated that it interacts with participants whenever required, particularly when it finds prospective transactions with potential securities characteristics, in order to request information for the proper work of facts analysis and suitable measures.
The CVM is also developing a set of recommendations for crypto firms to properly orient themselves around securities standards, which these companies must still obey despite the lack of digital asset legislation in the nation.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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Mercado Bitcoin Requested By Brazilian Regulator To Clarify Token Information
Mercado Bitcoin acknowledged receiving a request from Brazil’s securities and exchange (CVM) regulator linked to its fixed-income token sale, as reported by local news site Estado yesterday.
The company said in a Portuguese-language statement:
“We do not carry out a public offering of securities outside the scope of the authorizations we have as an authorized crowdfunding and investment management platform.”
Mercado Bitcoin, which provides over 200 different types of digital assets to its over 3.8 million clients, had total transactions of more than 40 billion reais in 2021 (about $7.44 billion at today’s currency rate).
“In relation to the so-called non-security tokens (tokens that do not represent securities), we take due care not to infringe on the scope of action of authorized entities, including consulting the regulator in advance about the structure used for such tokens, at the beginning of our operations in 2020″
The CVM did indicate that if it detects transactions involving prospective securities, it will request more information.
The CVM stated that it interacts with participants whenever required, particularly when it finds prospective transactions with potential securities characteristics, in order to request information for the proper work of facts analysis and suitable measures.
The CVM is also developing a set of recommendations for crypto firms to properly orient themselves around securities standards, which these companies must still obey despite the lack of digital asset legislation in the nation.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join us to keep track of news: https://linktr.ee/coincu
Website: coincu.com
Harold
CoinCu News
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