Opinion – Maria Inês Dolci: It was just what was missing: cryptocurrency pyramid

Investing in cryptocurrencies sharpens the imagination of those thinking of rapidly multiplying capital and making digital-only transactions. It is the right of every investor to take risks in search of the pot of gold at the end of the rainbow. But it is good for everyone to keep in mind that in Brazil there is still no monetary authority that regulates these currencies.

And that they are also subject to scams, as in the case of the financial pyramid that haunts customers of a company that closed its activities in December last year and promised to pay investors’ money in ten monthly installments. Until now, nothing.

The bait to attract investors is the promise of profitability of 2% to 5% per month, something unimaginable in conventional applications. The point is that promising high yields does not mean that this actually occurs, much less that there is safety in operations.

If a hacker manages to clone the WhatsApp of many of us, when there is no two-step confirmation, who can guarantee that they don’t create fake profiles to steal from unsuspecting investors.

A financial pyramid is a well-known scam, very old. A company offers returns well above the market. This works for a while, as they use one person’s money to pay other people’s profits. But the system has a limit: there is no infinite recruitment of new applicators. Then, at a certain point, the flow of new money to pay those who are already part of the scheme stops.

These cases are multiplying around the world, including in Brazil, mobilizing reactions from consumer protection organizations and the police. Losses occur to the same extent as was applied.

Without regulation of these operations, it is difficult to get back what was invested.

In December last year, Bill 4,401/2021, which provides for the inclusion of virtual currencies and air mileage programs in the definition of “payment arrangements”, under the supervision of the Central Bank, was approved in the Chamber of Deputies. and sent to the Senate.

In that legislative house, it underwent changes of merit, being sent back to the Chamber, last May. This Monday (4), a preliminary opinion was presented on the Senate substitute, with some rejections.

While the text is not voted on, there are three options for the investor: not investing in digital currencies; invest little (5% to 10% of your investments) and take a lower risk, or risk a lot and know that you can lose everything.