The Brazilian Securities Commission (CVM) issued a directive requiring Ukuchuma Financial Services LTD and IGM Forex LTD to stop soliciting clients in Brazil. CVM said the investigation found that the two companies did not have a license to operate in the securities market and should cease operations immediately. According to CVM's report, the companies are suspected of soliciting customers to Brazilian residents to trade securities, including cryptocurrency investments, through the XPROMarkets brand and website.

The Brazilian Securities Commission (CVM) issued a directive requiring Ukuchuma Financial Services LTD and IGM Forex LTD to stop soliciting clients in Brazil. CVM said the investigation found that the two companies did not have a license to operate in the securities market and should cease operations immediately. According to CVM's report, the companies are suspected of soliciting customers to Brazilian residents to trade securities, including cryptocurrency investments, through the XPROMarkets brand and website.