The Brazilian Securities Commission (CVM) on Tuesday issued a note on its website ordering to suspend Atlas activities in Brazil.
According to CVM Resolution 6-6, the companies include Atlas Digital Asset Services LTDA, Atlas Proj Ereli Technology, Atlas Services – Business Management Consulting and Administrative Support Services, Atlas Project International Ltd, Atlas Project LLC, and CEOMoSoft Platform, Inc. Authorized by the CVM to do and raise funds .
According to the CVM, Atlas's collection of ings fur falls into the category of Collective Investment Agreements (CICs), whose approval – or approval waiver – depends on the decision of the corporation.
"[As empresas] The CVM stated that they were not authorized by the corporation to offer securities or collective investment agreements, which were remunerated by companies under the & # 39; Quantum & # 39; Will be linked to the results of efforts to negotiate crypto securities through an algorithm called.
CVM claims that it has identified the firm's investment offers through its website and other means, and has used it as a tific postponement of the suspension. Atlas has also made prime-time television ads about quantum on the country's largest television network.
"The people involved are offering investment opportunities to the public, whose remuneration will be linked to the results of companies' efforts to provide crypto trading services, through an algorithm called Quantum. Such investment opportunities constitute a collective investment agreement (CIC) 2. , IX, Law No. 6,385, and, therefore, only by registration or waiver with the CVM Can be offered to declare.
Due to the facts, the CVM ordered to postpone all quantum declarations made by the company until authorization or waiver was received by the municipality, besides establishing a daily sentence of R 100 thousand ryas in case of non-compliance.
"The CVM determines that all partners, officers, directors and agents of the aforementioned legal entities refrain from making public appearances without proper registration (or waiver) in the municipality, under public penalties. CVM concluded, a fine of R $ 100,000.00 ”daily.
As requested by the cryptofacial team, Atlas did not comment on the decision until the matter was finalized. In case of a reply the article will be updated with the status of the company.
Also Read: Atlas Quantum Reveals About 15,000 Bitcoins In Custody