Although not a major hit to Bitcoin (BTC), Brazil has banned a Bitcoin and Forex broker that offers Bitcoin options. The company has been banned by the Brazilian Securities Commission (CVM). Reportedly, CVM issued a public warning related to the irregularities related to the XM Global Limited via Superintendent of Market and Intermediary Relations. The warning stated that XM Global limited is neither allowed to operate in Brazil nor it can deal with customers in Brazil. Bitcoin and Forex offering by XM Global Furthermore, CVM ordered the suspension of the investment offerings in Bitcoin and Forex and its derivate spaces
