The Brazilian Securities and Exchange Commission (CVM) has banned Singapore-based cryptocurrency exchange ByBit from operating in the country.
CVM‘of September 5 Cryptocurrency exchange ByBit has been banned from operating as a securities broker.
CVM, ByBit websites, apps and your social networks including through the use of direct and indirect all securities made brokerage services to be suspended ordered.
Commission required for ByBit to broker securities does not have licenses and competencies from investors residing in Brazil for investments in securities trying to raise funds He explained the reasons for his decision.
In the announcement, notification of ByBit’s decisions taken from the date of publication 1,000 Brazilian Reais (approximately $194) by CVM for each day that he is liable and does not suspend his activities. fine will be reported.