The Commission on securities and exchange Commission of Brazil (CVM) suspended operations investment mining project Hashbrasil charged with conducting an unregistered public offering of securities.

According to CVM, the company’s Director Leonardo Janiszewski (Leonardo Janiszevski) offered to potential investors quota in the investment group involved in bitcoin mining without having the legal permission. For ignoring the ban may be fined in the amount of 5,000 Brazilian reals (about $1500).

In response to the ban of the regulator representatives Hashbrasil reported by users in Facebook that temporarily stop working with new clients, but the project website States that support current users, the company is still engaged.

We will remind that in October of 2017, the head of the Central Bank of Brazil Ilan Goldfine (Ilan Goldfajn) likened bitcoin to a Ponzi scheme. And in the middle of January of this year, CVM announced that the cryptocurrency could not be considered a financial asset and therefore direct investment in them is invalid.