Brazil Antitrust Agency Launches Testing Regarding Cryptocurrency Trade: Major Banks Involved

The antitrust regulator of Brazil is inspecting six major banks for monopolistic practices in the field of cryptocurrency.

The antitrust regulator, the Administrative Council for Economic Defense has launched a probe to find out whether the largest banks in the country have closed the accounts of brokerages working with bitcoin.

The investigation was launched based on a request of the Brazilian Blockchain and Cryptocurrency Association. There were some previous complaints about it as well.

Within the probe, the regulators will inspect main banks: Banco do Brasil, Banco Bradesco, Itau Unibanco Holding, Banco Santander Brasil, Banco Inter and bank Sicredi.


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