The Brazil Securities Commission (CVM) collegiate board unanimously upheld an appeal by Mercado Bitcoin Serviços Digitais Ltda. and revoked CVM Deliberation 896, which had ordered the firm to suspend offering intermediation services for collective investment contracts in Brazil. The revoked order had applied not only to Mercado Bitcoin but also to all its partners, responsible persons, managers and agents, and had been backed by a daily fine for non-compliance. The revocation is reflected in CVM Deliberation 897, which was published in Brazil’s Official Gazette on 31 March. The CVM indicated that additional materials, including the votes cast by board members and an extract of the meeting minutes, will be made available in due course.
Brazil Securities Commission (CVM) 2025-03-25
Brazil Securities Commission revokes Mercado Bitcoin suspension order after upholding appeal
The Brazil Securities Commission (CVM) unanimously upheld an appeal by Mercado Bitcoin Serviços Digitais Ltda., revoking CVM Deliberation 896, which had suspended the firm's intermediation services for collective investment contracts. This decision, formalized in CVM Deliberation 897, was published in Brazil’s Official Gazette on 31 March. Additional materials, including board member votes and meeting minutes, will be released later.