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Two Brazilian bitcoin brokers closed their doors in 2020

Cryptocurrency

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Two Brazilian exchanges have announced that they will end their activities: Latoex, from São Paulo, and Acesso Bitcoin, from Porto Alegre.

The closing of Latoex was confirmed by Diego Velasques, CEO of Latoex Capital, who was an investment arm of the exchange until the separation of the two companies, in December 2019. The Portal still tries to contact the current managers of the company.

The closure of Access Bitcoin was confirmed by the co-founder and CPO of the broker, Pedro Nunes. However, it has not yet informed the reasons that led to the end of activities.

Formerly e-juno, Latoex defined itself as “the only crypto asset manager that is exposed in the market with portfolio management for investments in multiple crypto assets with a dollar indexed return”.

According to the Bitcoin Portal, the technology of the exchange Latoex would have been sold to another company. The bitcoins in your custody would already be returning to their owners.

Bitcoin Access, in turn, defined itself as an access portal for ordinary users to the cryptocurrency universe and promised simplified processes in operations.

Latoex Capital and CVM

The closure of the Latoex exchange does not interfere with the operation of Latoex Capital, according to Velasques. As an example, the CEO mentions that the company is audited by the BDO company, in order to give greater transparency to the business.

"Unfortunately there are a lot of financial pyramids out there," says Velasques.

Last December, Latoex Capital was the target of a stop order by the CVM (Securities and Exchange Commission), which forbade it to offer investment packages.

According to the autarchy, LTX Crypto Management, the broker's corporate name, is not authorized to “offer securities or collective investment contracts related to the acquisition of digital assets”.

At the time, Latoex Capital informed that it would comply with CVM's determination and seek information from the municipality about what it should do to resume the public offering.

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