Cryptocurrency is prohibited in Brazil and investors are caught by surprise

$XRP Calm down, Bitcoin investors, among other assets in the crypto world. Cryptocurrencies, in general, are still allowed in Brazil. The bad news is for those who invested in a specific project: the cryptocurrency $EIKE, launched by entrepreneur and former billionaire Eike Batista.$ETH Last week, the Securities and Exchange Commission (CVM) determined the suspension of the cryptocurrency offering as they did not have authorization from the Commission to act as securities dealers to the Brazilian public. "If the CVM's determination is not adopted, participants and individuals identified as involved in irregular acts will be subject to a daily fine of R$ 100,000," warns the Commission.

In addition to Batista, the project has other participants:

Luis Claudio Silva Rubio;

Sizuo Matsuoka;

Ebx Digital LLC;

BRXE Global Holdings LLC;

BRXE Brazil Holdings Ltda;

BRXE USA Holdings LLC;

BRXE Dubai Holdings LLC

$BNB The notice published by the CMV also warns that if you receive any investment proposal from those mentioned, you should contact the Commission through the Citizen Service (SAC).

Learn more about Eike Batista's cryptocurrency

The token $EIKE was launched in the market in February of this year. Eike Batista explained that the launch was a way to raise up to $100 million to invest, according to the entrepreneur, in a bioplastic factory in Florida, USA, and in the cultivation of a genetically modified variety of sugarcane, which would be able to produce more ethanol and biomass than conventional varieties.

InvestNews did a report on the launch, revealing that Batista's main partners in the project have a "history of unfulfilled promises and reports of default." "Zayed has already announced mega-investments in countries like Turkey and Tunisia, which never materialized. Renato Costa,#brasil