Cryptocurrency and Blockchain News From Brazil: Sept. 22-28 in Review

Published at: Sept. 29, 2019

Brazil has seen another tumultuous week in the cryptocurrency industry as the central bank of Brazil wants to use blockchain technology starting in 2020, the president of Unick Forex continues to claim they pay customers on time, and the Brazilian Securities Commission investigates the alleged fraudulent activities of more crypto-related companies.

Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph Brasil.

President of Unick Forex says it pays customers on time 

On Sept. 23, Cointelegraph Brasil reported that president of alleged investment scheme Unick Forex Leidimar Lopes said that the company's payments are up to date, despite the complaints of thousands of investors who claim that the exchange is not honoring their payments. Lopes said:

“We are paying thousands of customers every day, everything is still normal, everything is working.”

However, despite Lopes’s announcement, nothing seems to have changed. Investors still claim that their funds are blocked and say that the announcement was just another excuse from Unick. One investor added:

"They released the withdrawal but paid nothing. Requesting a withdrawal is easy, it is difficult for them to pay." 

Cointelegraph previously reported that a court in Rio de Janeiro ordered Unick Forex to pay $28,500 to a client who filed a lawsuit against the company for a delay in platform withdrawals.

Central bank of Brazil wants to use blockchain technology starting in 2020

On Sept. 24 Cointelegraph Brasil reported that the central bank of Brazil has decided to move away from its current payment system (Ted and Doc), which it considers slow and expensive. The new blockchain-based instant payment system should launch by November 2020.

The central bank hopes to connect more than 120 regulator-registered financial institutions and assure the availability of funds to the final beneficiary in real time, 24/7. 

Regulator investigates crypto-related firms for alleged fraud

On Sept. 20 Cointelegraph Brasil reported that the Brazilian Securities Commission (CVM) started investigating the alleged fraudulent activities of A2 Trader and Kleyton Alves Pinto. CVM stated that both entities are not registered with the institution, adding:

"They cannot perform the activities or provide the services [...] such as analysis, consulting or distribution of securities.”

The CVM is also investigating two additional companies, Blue Benx and NYC Technology, on charges of operating financial pyramids. According to the Brazilian regulator, these companies promised their customers large returns through various operations involving Bitcoin (BTC) and other cryptocurrencies.

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