Eike Batista’s Crypto Token Faces Regulatory Block in Brazil

Eike Batista’s Crypto Token Faces Regulatory Block in Brazil

Brazilian regulators halted Eike Batista’s $EIKE cryptocurrency project, citing unauthorized securities offerings and non-compliance with financial laws. The Brazilian Securities and Exchange Commission (CVM) declared the token, promoted via eiketoken.com, illegal for public sale in Brazil. The CVM ordered an immediate suspension of all activities, imposing a daily fine of R$100,000 for non-compliance. The $EIKE […]

Judges in Brazil can order bitcoin exchanges to seize funds to settle debts. Read more

CVM ordered immediate suspension of securities offering The post Market has warning about irregular activity involving Eike Token appeared first on Monitor Mercantil.

The Securities and Exchange Commission (CVM) ordered Eike Batista to stop offering his crypto asset “Eike Token ($EIKE)” to investors from Brazil. According to the local authority, the token falls under the concept of security, and those involved “are not authorized by the CVM to act as providers of securities to the Brazilian public.” The agency established a daily fine of R$ 100,000 if the order is disobeyed.