The Brazilian Securities Commission (CVM) has banned a forex broker offering Bitcoin (BTC) options.
On Sept. 25, CVM published a public warning of irregular action concerning XM Global Limited through the Superintendent of Market and Intermediary (SMI) Relations. In its warning, the CVM states that XM Global Limited is not authorized to operate in Brazil or deal with customers residing there.
XM is a major trading platform, but the forex market is banned in Brazil and no company is authorized to sell these kinds of options in the country. The company started trading Bitcoin against the dollar in 2017.
That same month, Zambian Securities and Exchange Commission CEO Philip Chitalu warned the public that the creator of the OnyxCoin cryptocurrency, Kwakoo, is not licensed to give investment advice or solicit funds from within and outside the country.