26 Jul '12, 12pm

Brazilian Regulator Whacks “Bitcoin Investment Group” via @bitcoinmoney #bitcoin

Brazilian Regulator Whacks “Bitcoin Investment Group” via @bitcoinmoney #bitcoin

The most recent round, Round 8, totals 500 BTC in size. With an exchange rate of nearly $9 USD each, the total valuation of the current round is just under $4,500 USD. 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. Because Bitcoin is a pseudonymous digital currency, the investment group doesn’t necessarily know where the funds originate. Bitcoin transactions include no information that would reveal the country of origin which would give the group an idea as to which investments came from those in Brazil. Communications to and from the investors do occur via e-mail but knowing only an e-mail address doesn’t always give an indication of...

Full article: http://www.bitcoinmoney.com/post/28048708075/brazil-bitco...

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