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The agency believes that the token does not comply with the due registration with the Securities and exchange Commission.Rocelo Lopes, CEO of Stratum, said he will speak with the authorities in order to continue operating.The Securities and exchange Commission (CVM) announced that it is suspended in Brazil any sale of securities made by the business Stratum and Co1nbr. According to several authorities, both platforms they would be making offers of tokens and investment contracts without proper permissions.The statement, published on 10 December, noted that the company Stratum would be selling tokens whose remuneration would be linked to an index of cryptocurrencies managed by professionals. Such a description seems to refer directly to the token StratumBlue (BLU) developed by this company, which represents a diversified portfolio with 10 of the cryptocurrencies more popular in the market.The commission considers that such a service may be included under the legal concept of real estate value, since it is offered as a contract of investment or value for both companies. Because of this, they concluded that the offer had to be suspended because they have not the due registration with the CVM.The authorities stressed that in case of default, representatives of Stratum and Co1nbr will face a fine of 100 thousand brazilian real. That is to say, approximately 24,000 american dollars a day. The CVM, he stressed that they are open to the public complaints to both companies, in addition to, any infringement will be taken as an administrative sanction.The statement concluded by explaining that the suspension of the supply of tokens has the objective of “to prevent or correct abnormal situations in the market.” The brazilian authorities have intensified their research and regulations with the market cryptocurrencies in this month of December. The CVM imposed a measure requiring exchange houses to process cash withdrawals in less than 48 hours and the national police also dismantled a scam with cryptocurrencies that affected more than 500 people.
You can get to court
Breaking News communicated with Roselo Lopes, CEO of Stratum Blockchain Technology Limited, who told with greater detail on the implications of this measure. Lopes commented that several weeks ago she received a message on behalf of the company and his person. The authority was interested in knowing the relationships of the Stratum with the company Coin1BR and StratumBlue (BLU).The CEO explained that StratumBlue is a cryptographic token that represents a portfolio of cryptocurrencies as Bitcoin, Ethereum or Ripple. According to data from its web page, the purchase of this token can generate an annual profit of 18,97% in this time. However, Rocelo Lopes points out that BLU is not a mutual fund or ETF, nor is it being offered as one, so that would not be in breach of any legislation.It also pointed out that Co1nBR and Stratum are two companies without any relationship. The first firm is in charge of processing payments with cryptocurrencies, while Stratum is a house of change even as it operates in Brazil has its headquarters in Hong Kong. The employer noted that although responded to the notice of the CVM with this information, only he knew the extent until it was published by the authority.Rocelo Lopes added that made certain changes to the token of BLU to be able to continue to operate in Brazil without legal problems. However, the business Stratum will continue to run more smoothly. The CEO plans to meet once again with representatives of CVM to discuss the measure. If this attempt yields no results whatsoever, Lopes said that the company will be presented in court.