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Survey: nearly 50% of Brazil’s financial pyramids involve Bitcoin and cryptocurrencies

RIO DE JANEIRO, BRAZIL - The growth in the number of cases of financial pyramids in Brazil for years has been drawing attention from major regulators, such as the CVM (Securities and Exchange Commission), which regulates and oversees the securities market, imposing penalties on those failing to comply with the established rules.

The main point is that cryptocurrencies are used only in fraudsters' rhetoric, who justify the exponential returns received by their clients by claiming that their money is being invested in high-potential cryptocurrencies.

According to the survey, the main vehicle for the spread of these scams is Whatsapp (corresponding . . .

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