Brazilian regulator requests information on Mercado Bitcoin products

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The Brazilian Securities and Exchange Commission has sent a request to the Mercado Bitcoin cryptocurrency exchange demanding the disclosure of data on tokenized fixed income products.

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Representatives of Mercado Bitcoin confirmed receipt of a request from the regulator, but did not comment on their further actions:

“We do not conduct a public offering of securities outside the scope of the permissions that we have as an authorized platform for crowdfunding and investment management. We support the regulation of service providers related to digital assets.”

The number of Mercado Bitcoin users exceeds 3.8 million people. The company offers trading in more than 200 types of digital assets. At the same time, the exchange does have tokenized fixed income products. They are represented by ERC-20 standard tokens.

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Users can invest at least 100 reais ($18.6) and receive a fixed income that reaches tens of percent per annum. It looks like the regulator wants to know how much Mercado Bitcoin has raised with these tools, as well as a list of investors.

The Brazilian Securities and Exchange Commission is currently working on a set of guidelines for crypto companies to better navigate securities regulations.

Earlier it was reported that Brazil is preparing a bill to regulate cryptocurrencies – its discussions should take place in September.

Source: Bits

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