Alex Coin 
Despite the fact that the complaints date back to 2021, the CMF still keeps Binance y a Quantfury in its list of entities indicated. It warns that these services do not operate with headquarters in Chile, so it urges to investigate more about it to avoid inconveniences.
***
La Financial Market an area or arena, online or offline, in which commercial dealings are conducted. Commission of Chile (CMF), the entity that oversees financial activities and business models in the South American country, recently published a list in which it accuses some 60 entities of offering suspicious loans and investments, among which it cited the international exchanges Binance y Quantfury.
CMF points to Binance y Quantfury for suspicious investments
This was reported by several local media outlets, which shared the list published by theCMFin which it points out a total of 47 entities indicated for offering credits with doubtful yields, and other 13 entities for enabling investment programs, being this last group where the exchanges mentioned above would be.
According to theCMF, the list in question was created at the beginning of the last 2020, so that the accusations against Binance y Quantfury date back to August of last year. The curious thing is that, at least in the case of Binance, The points are still valid today, especially in light of the deployment that the exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. has been having in Latin American territory.
In the report originally published by theCMF in August 2021 reads:
“With respect toBinance, an investment platform a place to buy, sell and store cryptocurrency that operates through the website https://www.binance.com/es the CMF informs that it is a non-supervised entity and that consequently it is not authorized to provide services in Chile… The UK’s Financial Conduct Authority (FCA) also issued a warning last month that Binance Markets Limited and Binance Group are not authorised by the regulator to provide investment services”.
About Quantfury there is no associated report published by theCMF, but the website indicates that the exchange will be listed in June 2021.
Unregulated services in Chile
Regarding the accusations made against the aforementioned exchanges, the Prosecutor of the Investigation Unit of theCMF, Andrés Montes, commented:
“In this case [regarding investment services], these are websites that offer people to invest investing is when you put money in a financial scheme with the intent of making a gain. in different types of instruments, but they are not authorized by the CMF to operate in Chile; these entities normally operate from outside the country.
Another interesting aspect exposed by Montes is that these and other services were pointed out because of reports and complaints filed by residents who have been victims of scams.
But one of the most striking features is that Binance y Quantfury are listed in theCMF along with other entities that operate proven scams. For example, there is the case of IMarketsLive – Mastery IM Academy, a supposed trading academy that marketed “training packages”, but in the background hid a pyramid scheme of large proportions where members were in the need to involve more people in this inorganic model to derive profits at the expense of the investment of the latter.
Going back to the exchanges mentioned above, the fact of appearing on the lists of theCMF indicates that they have not yet resolved their legal situation within Chile, which is why the authority warns users and interested parties of the following:
“Se recomienda a los inversionistas siempre, antes de realizar una inversión, buscar mayor información sobre los productos y la empresas con la que están considerando invertir, realizando las siguientes acciones: i) consultar el sitio web de la CMF para confirmar si la empresa respectiva se encuentra registrada en Chile y qué personas son responsables de su administración; y, ii) usar los buscadores de uso común en Internet a efectos de identificar la existencia de reclamos o comentarios negativos respecto de la entidad, realizando búsquedas que contengan el nombre de la empresa, los nombres de los directores y el/los productos que está considerando para su inversión.
Finalmente, se insta a los inversionistas a ser cautelosos si son contactados sin haberlo solicitado, si les presionan para invertir rápidamente o si les prometen rendimientos que se presentan como demasiado positivos para ser verdaderos”.
- Blockchain a distributed ledger system. A sequence of blocks, or units of digital information, stored consecutively in a public database. The basis for cryptocurrencies. Academy Chile and Celo Foundation Launch Blockchain Business Incubation Program for Latin America
- Chile: Congressman presents Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. law project
- Binance limits crypto transactions to persons or entities from Russia
Source: CMFChile
Version by Angel Di Matteo / DiarioBitcoin
Imagen de Unsplash
