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Brazilian Policymakers Call OKX, Bitso, and Binance While Targeting Crypto Scams

The respective people will be called to parliament. The purpose of this summon would be to confront the questioning posed by the members of parliament (MPs).

Jay Hicks



Policymakers in Brazil have called on the chiefs of the prominent crypto exchange platforms to the country’s parliament. As a result of this, the representatives of well-known trading firms like OKX, Bitso, and Binance are ready to attend the respective event. According to the regional media outlets, CPI (an exceptional parliamentary commission focusing on the crypto-centered financial pyramid projects) has authorized a list of up to thirty-eight people.

Policymakers in Brazil Invite OKX, Bitso, and Binance to Speak on the Increasing Crypto Scams

The respective people will be called to parliament. The purpose of this summon would be to confront the questioning posed by the members of parliament (MPs). Apart from several supposed organizers of crypto-related pyramid projects, the list also includes experts and witnesses in the field of cryptocurrency.

Policymakers say that they intend to establish a better recognition of crypto assets and the functioning of crypto-focused pyramids. In addition to this, they think that crypto exchange platforms can assist in this respect. A few of the professionals called to parliament take into account Guilherme Haddad Nazar who operates as the head of the Brazilian subsidiary of Binance.

The rest of the exchanges directed to attend take into account the above-mentioned Bitso along with Bitget, Liqi Digital Assets, Coinbase, OKX, and KuCoin. Bitso is categorized among the largest crypto trading firms in Latin America. Foxbit, the company that is presently operating with the Central Bank of the country on its project for digital real, has additionally been summoned.

Nonetheless, it seems that most of the attention would be provided to the representatives of a few of the prominent suspected crypto-linked frauds and pyramids in Brazil. The respective projects include Indeal, Atlas Quantum, and GAS Consultoria. Indeal has allegedly collected nearly $193M from its investors before announcing bankruptcy back in February. The rest of the noteworthy crypto experts and advocates have additionally been called on.

They take into account Fernando Ulrich (the person credited for writing the book named “Bitcoin: The Currency of the Digital Era.” The respective book is categorized among the initial crypto-related publications which achieved mainstream popularity in Brazil. Thiago Nigro (a Bitcoin bull), also called Primo Rico, was additionally summoned to assist elaborate on the operations of the market.

A Few Policymakers Consider Media Outlets to Be Credited for Spreading Crypto Scams-Related Advertisements

Rico Investimentos (the platform operated by Nigro) has been actively working in the regional BTC market. A few members of the parliament think that social media forums, TV stations, and media websites are not up to the mark in their fight against the elevation of scams related to cryptocurrency. They are of the view that a few media outlets are responsible for publishing and airing advertisements of crypto scammers. They demand actions in this respect.

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