Federal Representative Marcos Tavares (PDT-RJ), called for a public hearing with companies working with cryptocurrencies leasing in Brazil, who should send representatives to discuss their activities.
In the proposal of the federal deputy from Rio, the deputy wants to hear from ‘crypto asset’ leasing companies as well as fintechs that offer bank spread products in the form of credit.
“It requires holding a public hearing, with the aim of discussing the investment policies of companies operating in Brazil in the segment of crypto assets in the lease mode and Fintechs with the spread banking product in the credit mode.”
With recent blows to the cryptocurrency market, the leasing of coins by investors with high monthly incomes has caught the attention of the authorities. Thus, it became a clear public interest that the debate was discussed and clarified.
Delegate Asked Treasury Department Representatives and Four Companies in a Public Hearing to Discuss Cryptocurrency Leasing
A public hearing on cryptocurrencies leasing may be on the agenda of the Finance and Taxation Commission (CFT), in the Chamber of Deputies in Brasília. According to a request from deputy Marcos Tavares in recent days, he wants to hear from the public and representatives of companies on this topic.
The representatives invited to participate in the hearing, according to the request that Livecoins had access to, are:
- Ministry of Finance;
- Brazilian Consumer Protection Institute – IDEC;
- Saft Capital;
- R4 Research;
- Ica Bank Financial Solutions LTDA;
- Infinity technology and solutions from Pagamentos LTDA.
The deputy author of the request justifies meeting with the representatives to verify that the companies’ activities comply with Brazilian law. If he understands otherwise, the problems should be better discussed and resolved, he recalls, referring to Law No. 14.478/2022, which will come into force in June 2023.
Cryptocurrency leasing companies targeted by authorities
In recent months, several cryptocurrency leasing companies have shown trouble in Brazil, receiving visits from PF agents at their address.
In 2022, Rental Coins and other InterAG Group companies were targeted by federal police during Operation Poyas. After promises of huge profits associated with cryptocurrencies, companies suspended customer withdrawals. The investigation was backed by US authorities, who claim the “sheikh of bitcoins” also staged a coup there, eventually arresting him.
As early as 2023, another offering profit from cryptocurrencies leasing, Braiscompany, stopped honoring customers with withdrawals and was also targeted by the PF, this time with Operation Halving.
Apparently, by promising large profits from alleged operations, companies used the image of cryptocurrencies to create financial pyramids.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
