CVM President Warns Cryptocurrency Investors

The chairman of the Securities and Exchange Commission (CVM) took part in an event related to Investor Week and issued a stark warning to investors in the cryptocurrency market.

Last Monday (2), the famous Bell Ring at B3 marked the official launch of the event in Brazil, with the participation of the Chairman of the Securities and Exchange Commission (CVM), João Pedro Nascimento, the Vice President of Products and B3 Customers , Juca de Andrade, and the Chief Financial Services Inspector of the Central Bank of Uruguay, Juan Pedro Cantera. The event was broadcast live.

Lucia Buenrostro, chair and vice chair of regulatory policy at the National Banking and Securities Commission of Mexico, also participated virtually in the ceremony.

The chairman of the CVM praised the initiative, which is in its seventh edition and continues to do important work in the field of financial education and democratization of the capital market. João Pedro Nascimento also highlighted the unprecedented action that will be carried out next Tuesday 3/10 with the launch of WIW in America at Christ the Redeemer.

“This year we have a surprise for the world. Brazil opens the regional launch of the Americas of World Investor Week tomorrow (3), at the foot of Christ the Redeemer, and we are very proud of this unprecedented initiative. The beauty of the capital market is associated with its ability to democratize. For CVM, the theme of ‘democratization’ is in dialogue with Open Capital Markets, the open, inclusive capital market for everyone.”

Chairman of the CVM warns investors in the cryptocurrency market about unregulated opportunities

In the first panel of the event, the debate on financial education and investments in Favela was attended by the President of the CVM, together with Felipe Paiva, director of client relations at B3, Murilo Duarte, creator of ‘Favelado Investidor’ and Pablo Spyer, digital influencer .

During the chat, João Pedro Nascimento took the opportunity to warn about investment promises within the crypto economy.

“In the recent world there has been a surge in many investment opportunities offered by participants in an unregulated market, which yield very significant profits. Be wary of miraculous promises, with guaranteed profitability, with returns that exceed what is promised in some of the most traditional investment mechanisms.”

After his speech, João Pedro argued that market agents are already talking to regulators, a reality he defends. The chairman of the CVM recalled that many new cryptocurrencies are constantly emerging and investors should pay extra attention to scams.

Bitcoin and cryptocurrencies are one of the central themes of the 2023 edition

This year’s global campaign focuses on investor financial resilience, cryptocurrencies and sustainable finance.

At the opening of the lecture series, Nathalie Vidual, Chief Inspector of Investor Protection and Guidance (SOI) at CVM, highlighted the Authority’s choice to work on financial literacy on the first day of the event.

“We understand that financial literacy is a way to achieve long-awaited financial resilience. We know that Brazil has relevant educational disparities and this leads to low levels of financial literacy, especially among the most economically vulnerable groups. We can’t expect these young, future adults to make smart decisions about how to manage money if we don’t provide them with basic information. The CVM wants to ensure sufficient financial literacy and therefore continues to encourage financial education actions, such as World Investor Week.”

The full Investor Week 2023 events can be found on the official website.

Source: Live Coins

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