The Brazilian Securities Commission warns about illegal cryptocurrency brokers operating in Brazil

ChainCatcher news, the Brazilian Securities Commission (CVM) issued an order requiring Ukuchuma Financial Services LTD and IGM Forex LTD to cease soliciting clients in Brazil.

CVM stated that investigations found these two companies did not have the operational license for the securities market and should immediately stop their operations. According to the CVM report, these companies are suspected of soliciting clients for securities trading, including cryptocurrency investments, to Brazilian residents through the XPROMarkets brand and website.