Brazil’s regulator prohibiting funds from investing in cryptocurrencies?

redhondaxrm125

full member

Activity: 266

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Quote from: Shwester on January 14, 2018, 11:12:24 PM

Jail time? Really?
Jail time for being making money in the digital world. That’s is ridiculous.
The banks are behind all of these stupid bans.

Bloody hell. This is fcking ridiculous. These greedy banks and governments should really start thinking about what they do. Because is they don't time will come when all people will join forces to take down the governments by force. Rebellions will rise. Chaos will take over. This is what i see in the future if governments force their ways to the people.

Shwester

newbie

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Quote from: pooya87 on January 14, 2018, 11:43:33 PM

is it just talk or is there actually some law confirmed to do this?
since you provided us with no information or source and i couldn't find anything either i will assume it is just some dude from the government or possibly a bank talking about this kind of prohibition. in which case this is not new and nobody cares what they say until it becomes a law. then it only becomes harder to invest in cryptocurrencies but not impossible. the handful of countries that actually have such laws have proved this already.

yes I think the same there are some people from the government talking about this kind of ban.I don't think they are going to make any law to prohibit crypto curncies.

xiaohao111

jr. member

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Merit: 5

I don't know where are you from, but if it is true, then I think the government's behavior is very difficult to make people understand that they should follow the pace of The Times, the currency is the product of the era, the future will become the mainstream monetary

VitKoyn

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I found some article about this, SEC of brazil prohibits their citizens from buying/investing in cryptocurrencies because they are not considering cryptocurrencies as financial assets and they stop introducing regulation, but there's still no law or bill that is already implemented so I guess people from that country are still free to buy/invest in Bitcoin or altcoin. I don't know if this article/news are reliable and legit or it is just someone spreading FUD.
Here's the links http://markets.businessinsider.com/news/interestrates/BRAZIL-CVM-Forbids-Funds-From-Investing-In-Bitcoin-Other-Cryptocurrencies-1013085057 and this one https://www.reuters.com/article/brazil-bitcoin/brazil-regulator-bans-funds-from-buying-cryptocurrencies-idUSL1N1P71DV

jseverson

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I can't find anything about Brazil restricting anything about cryptocurrencies. All I can find is that they defined Bitcoin as an asset, rather than a currency:

https://www.coindesk.com/legal-future-cryptocurrencies-brazil/

That's not so bad. According to the article, you could move said assets without any restrictions other than paying taxes. You should be free to do whatever you please.

pooya87

legendary

Activity: 3472

Merit: 10611

is it just talk or is there actually some law confirmed to do this?
since you provided us with no information or source and i couldn't find anything either i will assume it is just some dude from the government or possibly a bank talking about this kind of prohibition. in which case this is not new and nobody cares what they say until it becomes a law. then it only becomes harder to invest in cryptocurrencies but not impossible. the handful of countries that actually have such laws have proved this already.

dave111223

legendary

Activity: 1190

Merit: 1001

What is your source ? I heard about this no where ...

glaciercapital

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Merit: 10

Quote from: HabBear on January 14, 2018, 11:20:48 PM

Quote from: Shwester on January 14, 2018, 11:12:24 PM

Jail time? Really?
Jail time for being making money in the digital world. That’s is ridiculous.
The banks are behind all of these stupid bans.

As a protest, all of Brazil's citizens should transfer their money to Bitcoin. Lower the demand for the Brazil whatever-it's-called currency until the Government realizes they cannot control everything.

This talk is frustrating. I'm glad it's not real talk!

Stories like this are the exact reason why Bitcoin should exist, it serves as an independent alternative to government controlled currencies, which in turn keeps the governments motivated to do what's best for their people (as it relates to currency, etc.)

I think this year there will be a lot more of this kind of action from governments. It will interesting to see how the crypto community copes. The governments feel they need to take action, especially emerging market governments with genuine fiscal instability.

HabBear

hero member

Activity: 1106

Merit: 638

Quote from: Shwester on January 14, 2018, 11:12:24 PM

Jail time? Really?
Jail time for being making money in the digital world. That’s is ridiculous.
The banks are behind all of these stupid bans.

As a protest, all of Brazil's citizens should transfer their money to Bitcoin. Lower the demand for the Brazil whatever-it's-called currency until the Government realizes they cannot control everything.

This talk is frustrating. I'm glad it's not real talk!

Stories like this are the exact reason why Bitcoin should exist, it serves as an independent alternative to government controlled currencies, which in turn keeps the governments motivated to do what's best for their people (as it relates to currency, etc.)

Qraad

newbie

Activity: 19

Merit: 0

That's looks like a political goons got activated to snatch the people money by hook or by crook.

UZIzzzz

member

Activity: 168

Merit: 10

In fact, there is speculative in the cryptocurrency market, and these governments are conservative people, so it is understandable to ban bitcoin.

Shwester

newbie

Activity: 111

Merit: 0

Jail time? Really?
Jail time for being making money in the digital world. That’s is ridiculous.
The banks are behind all of these stupid bans.

Topic: Brazil’s regulator prohibiting funds from investing in cryptocurrencies? (Read 165 times)