The Brazil Securities Commission (CVM) issued Deliberation CVM 904 ordering Sigma Soluções Digitais e Treinamentos Ltda. and its legal representative, Marcus Vinicius Lopes Melo, to immediately stop disseminating in Brazil any offering of investment contracts that fall within the legal definition of securities. CVM’s Strategic Risk Supervision unit identified indications that, through the website crypto.sigmainfinity.com.br, the firm has been marketing investments whose remuneration is linked to cryptoasset leasing, arbitrage and management carried out by the firm, targeting the Brazilian public. The regulator considers the contracts, as offered, to be collective investment contracts under Article 2(IX) of Law 6,385, which can only be publicly offered with CVM registration or an applicable exemption, and states that neither the company nor its representative is authorised to make such public offers. Non-compliance may result in a daily coercive fine of BRL 100,000, without prejudice to liability for prior conduct, which may be addressed through a sanctioning administrative proceeding under Article 11 of Law 6,385. CVM also invited investors who have received proposals from the cited firm to report details to the regulator through its citizen service channel to support prompt supervisory action.
Brazil Securities Commission (CVM) 2025-11-05
Brazil Securities Commission orders Sigma Soluções Digitais to immediately halt public offering of crypto-linked investment contracts
The Brazil Securities Commission (CVM) issued Deliberation CVM 904 ordering Sigma Soluções Digitais e Treinamentos Ltda. and its representative, Marcus Vinicius Lopes Melo, to cease offering unregistered investment contracts in Brazil. These contracts, linked to cryptoasset activities, are deemed collective investment contracts under Article 2(IX) of Law 6,385, requiring CVM registration. Non-compliance may incur a daily fine of BRL 100,000, and investors are encouraged to report any proposals received from the firm.