RATE Group | CEO of Under Fire Brazilian Firm Owns 25,000 Bitcoin
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CEO of Under Fire Brazilian Firm Owns 25,000 Bitcoin

01 Oct CEO of Under Fire Brazilian Firm Owns 25,000 Bitcoin

Posted at 16:59h in Bitcoin News by

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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 is not possible to know if the numbers reported are accurate or the most current, due to tax filings in Brazil being self-reported.

Screenshot of Oliveira’s 2018 tax filing. Source: Cointelegraph

Despite the fact that the tax filing is for Oliveira’s personal funds, legal experts told Cointelegraph that Brazilian law could potentially demand the CEO’s personal assets to cover the…

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