After collecting 171 signatures from federal deputies from all over Brazil, after years of debates, the Parliamentary Commission of Inquiry (CPI) can finally be created to investigate cryptocurrency pyramids.
Coincidence or not, the number of signatures is reminiscent of Article No. 171 of the Brazilian Penal Code, which deals with embezzlement fraud. Normally financial pyramids are accused of embezzlement and against the national financial system.
According to the document on which the live coins access obtained, available since last Monday (3), the request RCP 4/2023 receives the request again by Deputy Aureo Ribeiro (SOLIDARIETY-RJ).
The MP was also the author of Marco das Cryptocurrencies, approved in 2022, which became law 14.478/2022.
After the passage of the cryptocurrency law, he stated at a public event that he would again call for the creation of the CPI to investigate scams in the market.
Which companies are mentioned in the request to open a CPI on cryptocurrencies in Brazil?
As a request filed in the Chamber of Deputies with the minimum number of signatures approved, Aureo Ribeiro requested the creation of the CPI to investigate companies that promise profits from cryptocurrencies, but later turn out to be pyramid schemes.
“Requires the establishment of a Parliamentary Commission of Inquiry to investigate evidence of sophisticated fraudulent operations in the management of various financial services companies promising to generate equity through cryptocurrency management, with the disclosure of false information about projects or services and promise of abnormal high profitability or guaranteed and without costs, but forming a reward system
fueled by the entry of new entrants (which has caused huge losses for investors and society as a whole between 2019 and 2022). (CPI OF THE FINANCIAL PYRAMIDS).”
To look into matters, he recalled the stop orders issued by the CVM against the likes of Atlas Quantum and TraderGroup.
In addition, the parliamentarian recalled the scam by KriptaCoin, Atlas Quantum, Investimento Bitcoin, 18k Ronaldinho (who used the image of former player Ronaldinho Gaúcho), GAS Consultoria Bitcoin (from the “Bitcoin Pharaoh”) and finally the “Bitcoin Sheik” .
Some of the delegates who signed the CPI request
With 171 signatures collected, it is remarkable that Aureo Ribeiro could count on the support of several federal representatives, from different parties.
The one drawing is Deltan Dallagnol (Podemos-PR), known for his work in Operation Lava-Jato in the past when he was with the MPF.
Celso Russomano (Republicanos/SP) is known in Brazil for his defense of consumers and also supports the installation of the CPI.
Another signatory to the document is the current Chairman of the Workers’ Party, Gleisi Hoffmann (PT-PR). Current President Lula’s party is one that has 64 signatures to the CPI’s request to investigate cryptocurrency financial pyramids, i.e. collected more than 1/3 of 171.
From the base of former president Jair Bolsonaro, Nikolas Ferreira (PL-MG) and 18 other MPs from the Liberal Party also sign the document.
With this, it is clear that parties with different views are coming together to investigate a problem that plagues Brazilian families, namely the financial pyramids.
It is worth remembering that the CPI debate on cryptocurrencies began in 2019, when Aureo Ribeiro first drafted a proposal.
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.
