RATE Group | Brazil Opens A Formal Inquiry Into The Country’s Rampant Cryptocurrency Scams
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Brazil Opens A Formal Inquiry Into The Country’s Rampant Cryptocurrency Scams

20 Oct Brazil Opens A Formal Inquiry Into The Country’s Rampant Cryptocurrency Scams

Posted at 16:51h in Cryptocurrency News by

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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 to users and investors.”

The congressman also explains in the same document why Atlas Quantum — once the biggest crypto company in Brazil, but now facing legal and financial issues — should be investigated:

“Atlas Quantum published a video on September 18 that show a…

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