Legal View

About cryptocurrency asset management

The cryptocurrency portfolios managing activity, as detailed in the terms of use, are not regulated by Brazilian regulatory and/or self-regulatory authorities, such as, for example, the Securities and Exchange Commission (“CVM”) or the Central Bank of Brazil (“ BACEN ”). The use of the terms "portfolio", "management" and others that may be associated with securities are used only for the limitation of the vernacular and do not reflect the nature of the services provided.

Byebnk Intermediações, clarifies, for the purposes that are necessary, that it does not provide investment services, on behalf of the USER, in cryptocurrencies that can be considered Collective Investment Contracts and/or Securities. The Services are restricted to portfolio management composed only and exclusively by Cryptocurrencies. Cryptocurrencies, according to the Superior Court of Justice, in Conflict of Jurisdiction 161.123 / SP, DJe 5/12/2018, does not have the nature of currency or securities, according to the Central Bank's understanding do Brasil and the Securities and Exchange Commission

About the asset management service

The asset management service is offered privately and restricted to Byebnk users, and is performed by an Independent Asset duly registered and licensed by the CVM. All contracts and activities are made according to the relevant legislation between the client, accredited manager, and broker.

Byebnk Intermediações LTDA acts only as a finder, accepting commission for the business carried out, supported by a commercial contract signed between Byebnk and the asset.

Regulatory risk management

In order to reduce the lack of regulation by national authorities risks, Byebnk Intermediações Ltda is conducting a jurisdictions study that supports cryptocurrencies and, in due course, may change the information in this section, always preserving the best interest of users.

 

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