Brazilian Congressman Aureo Ribeiro, author of a bill that purports to regulate the Brazilian crypto market, requested the opening of a Parliamentary Inquiry Commission (PCI) to investigate crypto-related fraud in Brazil. Cointelegraph got access to a document that asks for a deep investigatigation into companies like Atlas Quantum (and CEO Rodrigo Marques), Zero10, and Trader Group, among others. "Increasing interest in cryptocurrency transactions has been accompanied by a proliferation of fraud,” the document reads. “The lack of regulation and vigilance combined with high levels of abstraction, anonymity, cross-border operations, and other peculiarities inherent to the crypto market shows potential risks …

Ripple, the firm behind the third biggest cryptocurrency XRP, has led an investment round in Bitso, one of the biggest crypto exchanges in the Spanish-speaking world. The first Mexican crypto exchange An early partner of Bitso, Ripple has led the new investment round to support the first cryptocurrency exchange in Mexico, the company officially announced on Oct. 14. As reported by crypto publication The Block, the new investment round also involves major investors including United States-based crypto exchange and wallet provider Coinbase, Jump Capital as well as existing investors such as Digital Currency Group and Pantera Capital. The amount of …

The story of Brazil’s crypto scams took a new twist over the past week as CEO of an alleged pyramid scheme reportedly fled the country after rejecting court deadlines. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph Brasil. Banco Original sponsors a crypto-related event Brazil’s Banco Original was the principal sponsor of the Expo Boa Chance, a major fintech conference bringing together financial institutions, multilevel marketing and cryptocurrency-related firms, Cointelegraph Brasil reported on Oct. 6. Held at Expo Dom Pedro in Campinas, the event reportedly hosted more than 20,000 entrepreneurs. According …

Brazil saw another week of reports on alleged cryptocurrency scams as the Sao Paulo Court ordered to block the assets managed by Unick Forex, while another firm was reported of promising 400% returns through a cryptocurrency investment scheme. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph Brasil. Unick Forex reportedly flees offices but apparently will resume operations Following a police investigation of purported investment scheme Unick Forex, staff reportedly fled the firm’s offices with computers and other hardware in tow. Cointelegraph Brasil reported on Sept. 20 that, according to the administrators …

Major Slovakia-based antivirus software provider ESET has discovered a banking trojan that can steal cryptocurrencies and is especially widespread in Latin America. Primary targets Known as “Casbaneiro” or “Metamorfo,” the newly found malware family targets banks and cryptocurrency services located in Brazil and Mexico, ESET’s editorial arm WeLiveSecurity reports Oct. 3. According to the report, Casbaneiro uses a social engineering execution method, which displays fake pop-up windows misleading potential victims to enter sensitive information. The capabilities of the malware are typical of Latin American banking trojans that can take screenshots and send them to command and control server, simulate keyboard …

Cryptocurrency exchange HitBTC has denied allegations that it froze Brazillian investment startup Atlas Quantum’s funds, claiming the evidence is forged. Atlas Quantum claims HitBTC froze $20.7 million In a Twitter argument which began on Oct. 2, the exchange said it had no record of blocking the accounts of Atlas Quantum. The startup had alleged in a video on Sept. 18 that HitBTC froze 1,862 BTC ($15.3 million) and over $5.4 million in stablecoin Tether (USDT) in its account. HitBTC then responded to the tweet continuing the complaint this week, which Atlas Quantum subsequently deleted. HitBTC: Atlas Quantum “forged” balances Citing …

The CEO of Brazilian cryptocurrency firm Grupo Bitcoin Banco has claimed 25,000 Bitcoins (BTC) — a staggering $209 million as of press time — on a tax filing, while also saying his firm is unable to pay out customer funds as the result of a hack. The tax document was shared with Cointelegraph by an individual close to Brazil’s tax authority, the Department of Federal Revenue (RFB), who asked to remain anonymous for security reasons. According to the document, the exchange’s CEO, Claudio Oliveira,claimed his crypto holdings in a 2018 filing with the RFB. Although the document is genuine, it …

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 …

The Brazilian Securities Commission (CVM) has banned a forex broker offering Bitcoin (BTC) options, Cointelegraph Brasil reported on Sept. 25. On Sept. 25, CVM published a public warning of irregular action concerning XM Global Limited through the Superintendent of Market and Intermediary (SMI) Relations. In its warning, the CVM states that XM Global Limited is not authorized to operate in Brazil or deal with customers residing there. The CVM ordered the immediate suspension of investment offerings in the forex or derivatives space. If the condition is not met, the firm will be fined 1,000 reals ($239) per day. Cointelegraph Brazil …

Cross-border transactions on crypto assets are already relevant and have already had a considerable impact on the domestic economy of some countries. For example, last month, the Central Bank of Brazil (BACEN) reviewed the Brazilian Trade Balance for crypto assets with new classifications under IMF standards. In Georgia, for example, which accounts for about 15% of global Bitcoin (BTC) mining, companies receive an estimated $700 million from Bitcoin mining annually. This represents about 5% of the country’s GDP, or 10% of exported goods and services. Crypto assets and international guidelines The fact is that the sudden rise of crypto assets …

Brazilian cryptocurrency exchange and alleged pyramid scheme Atlas Quantum has rejected court deadlines to resolve its delayed Bitcoin (BTC) withdrawals. Atlas Quantum may constitute a financial pyramid As Cointelegraph Brasil reported on Sept. 17, the Federal Court of Brazil ruled that the exchange's current activities may constitute a financial pyramid. It therefore decided to immediately freeze the company’s assets and bank accounts and give the company 48 hours to resolve outstanding accounts. In a Sept. 18 response to the court's ruling and deadline, Atlas Quantum said there is no requirement to resolve the problem of late withdrawals by any given …

Brazil has seen another tumultuous week in the cryptocurrency industry. Several courts are going after crypto companies accused of being pyramid schemes, the country’s Securities and Exchange Commission (CVM) stated that crypto exchanges need authorization from local authorities, while a former Brazilan soccer star has become an ambassador for a newly launched cryptocurrency. Here is the past week of crypto and blockchain news in review, as originally reported by Cointelegraph Brasil. Rio de Janeiro court orders Unick Forex to pay $28,500 to client A court in Rio de Janeiro has ordered supposed investment scheme Unick Forex to pay $28,500 to …