Brazilian Government Questions Local Crypto Exchanges | News ICORating
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Brazilian Government Questions Local Crypto Exchanges

Brazilian Government Questions Local Crypto Exchanges

According to a report from local news outlet, the Brazilian government has sent the top local crypto exchanges a 14-point inquiry. Their aim is to know more about exchanges’ businesses and their potential for money laundering.

The document, sent under the aegis of the Ministry of Finance, requests that crypto exchanges have to answer the inquiry within five days. Questions are focused on operations, user verification procedures and risk management.

This move is considered to be a response to the hacking of Brazilian crypto investment platform Atlas. The hacking resulted in the leaking of over 260,000 users’ data, including email addresses and amounts of BTC deposited on the platform.  

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