The Brazilian Securities Commission (CVM) has issued a directive requiring Ukuchuma Financial Services LTD and IGM Forex LTD to stop soliciting clients in Brazil. The CVM said that the investigation found that the two companies did not have a license to operate in the securities market, so they should immediately stop operating. According to the CVM report, the companies are suspected of soliciting clients from Brazilian residents through the XPROMarkets brand and website to conduct securities t...
The Brazilian Securities and Exchange Commission (CVM) has approved the second Solana exchange-traded fund (ETF), which the agency has disclosed in its central database. According to the CVM database, the new Solana (SOL) ETF is in the pre-operational stage and will be launched by Brazil-based Hashdex, a Brazil-based asset manager with over $962 million in assets under management, in partnership with local investment bank BTG Pactual. Hashdex, an experienced player in the ETF space of the B3 sto...
Brazil's Securities and Exchange Commission (CVM) has approved the first Solana Spot ETF. The investment product is offered by QR, a Bitcoin and Ethereum ETF management company, and will be managed by Vortx. The ETF is still in the pre-operational stage and still needs approval from B3 for regulatory reasons. It will be launched within a maximum of 90 days.
Brazilian securities regulator CVM is investigating tokenization activities in the country. According to local media reports, CVM has written to some companies that provide tokenization services to third parties, requesting data related to their operations and the types of tokens issued in these activities. Some of the issues raised in these letters concern the number of tokenization operations completed by each company, the names of the assets that support these operations, and the so-called cl...