Regulatory Alerts2025-11-04
CVM Resolution No. 904 of November 4, 2025
The Brazilian Securities and Exchange Commission (CVM) issued Resolution No. 904 to address the irregular public offering of securities by Marcus Vinicius Lopes Melo and Sigma Solucoes Digitais e Treinamentos Ltda. The regulator determined that the entities offered cryptoasset-linked investment contracts without the required registration, violating the Securities Law. Consequently, the CVM ordered the immediate cessation of these activities and imposed a daily fine of R$ 100,000 for non-compliance.
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