10 Brazilian crypto exchanges questioned by a financial watchdog

Brazil Cryptocurrency South America

10 Brazilian cryptocurrency exchanges and an OTC trading desk have a received a questionnaire from the country’s Administrative Council for Economic Defense (CADE), a body tasked with antitrust overwatch.  

Among the information requested by the CADE include a brief description of the exchanges business as well as questions whether they have had their bank accounts closed down and if it resulted in losses.  The CADE also asks the exchanges to describe their ani money laundering and terrorism financing measures and other. 

Failure to comply with the Council’s request by October 19 may result in a fine of up to 25,000 USD.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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