Bitcoin Money – Brazilian Whacks ‘Bitcoin Investment Group’:

A post on Bitcoin Money blog (@BitcoinMoney) describes action taken by a Brazilian regulator ordering a venture suspends its activities.  Excerpts:

“[The administrator of Grupo de Investimento Bitcoin] solicits investors for an ‘investment group’. The only funds accepted for investment are bitcoin.”
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“A response to the decision was posted in the group’s forum thread by César in which he claims that the offering was never based in Brazil nor was it publicized to those in Brazil.  ’[Grupo de Investimento Bitcoin] has no flag and no country. It is decentralized and universal’ César claims.”
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“Because Bitcoin is a pseudonymous digital currency, the investment group doesn’t necessarily know where the funds originate.”
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“This is the first time it has been made public that a government organization anywhere has classified holdings of bitcoins as securities and it is also the first time a regulator anywhere has ordered a bitcoin-related entity to end its actions involving the digital currency.”
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“César shared on the forum post that investment in the group will no longer be offered in Brazil, though he also vows to continue operating. ”This has no effect on the investment group” he asserts.”

- http://www.bitcoinmoney.com/post/28048708075

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