Despite the fact that Bybit was in talks with the Brazilian Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission Unfortunately, they have not been able to reach an agreement to market an area or arena, online or offline, in which commercial dealings are conducted. this type of products. The measure does not affect the other operations offered by the exchange in the country.
- Bybit Brazil suspends crypto futures a futures contract is a standardized legal agreement to buy or sell a particular commodity or asset at a predetermined price at a specified time in the future. and options trading in Brazil
- The measure is given by disagreements with the CVM
- The suspension of these activities is effective as of September 15.
The international cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchange based in Singapore, Bybit, reported that it will stop offering cryptocurrency-based futures and options for trading operations in the Brazilian market, this after the local securities regulator banned the responsible company from trading this type of products.
Bybit Brazil suspends crypto futures and options trading in Brazil
The information was published by the team of Bybit in a recently published communiqué, in which they indicated that they have been in contact with the Brazilian Securities and Exchange Commission (CVM) to mediate and resolve the situation, but given the impossibility of reaching an agreement in the short a trading technique in which a trader borrows an asset in order to sell it, with the expectation that the price will continue to decline. In the event that the price does decline, the short seller will then buy the asset at this lower price in order to return it to the lender of the asset, making the difference in profit. term, the company will choose to suspend derivatives trading starting tomorrow, September 15.
To inform the users, on the platform a place to buy, sell and store cryptocurrency of Bybit there is a message where they warn about the changes that will take place from tomorrow, where they also warn users to liquidate or terminate their commercial operations before the cessation of such operations takes place.
The company also clarified that this will not imply blockages for the assets already deposited by users, so it invites them to remain calm and not to get carried away by rumors of dubious origin. However, there was no confirmation in cryptocurrency, a confirmation is a measure of how many blocks have actually passed since a transaction was added to a blockchain. from the team at Bybit whether transactions that are open at the time the measure takes effect would be automatically closed.
Spot a contract or transaction buying or selling a cryptocurrency for immediate settlement, or payment and delivery, of the cryptocurrency on the market. trade will not be affected
It is worth noting that the measure only applies to crypto futures and options trading, so the other products offered by the exchange will continue to operate normally.
The latter applies especially to spot trading, i.e. buying/selling/exchanging cryptocurrencies on the spot, where traders can create market orders that are executed depending on the rise or fall in demand from interested parties.
Brazil and the crypto market
It is worth noting that Brazil is one of the main markets for cryptocurrencies in the region, where regulations have opened up opportunities for important companies to offer their products and services there.
A recently published report revealed that the country’s residents invested around USD $1 billion to buy cryptocurrencies during the month of August, making it one of the highest figures recorded locally.
Recently the crypto wallet a place where cryptocurrency users can store, send and receive digital assets. for browsers, Metamask, announced an integration with the payment system Pix to allow residents to buy cryptocurrencies by paying with Brazilian reals.
- Brazil: MetaMask an online digital wallet that allows users to manage, transfer and receive Ethereum, operating as an extension to a regular browser. Wallet Now Allows Buying Cryptocurrencies with Reais
- Brazilians break their own record: they buy almost USD $ 1 billion in cryptocurrencies in a month
- Former Brazilian Central Bank President Henrique Meirelles Joins Binance as an Advisor
Article by Angel Di Matteo / DiarioBitcoin
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