The CNMV has included Bullrun.io in its list of entities not authorized to provide financial services or “chiringuitos”, in the jargon of the supervisor. Joining it are Uniteex, Biteq, Swissfuture-FX, Revena, Green Trade Capital and BestProducts. Bullrun is defined as “platform of cryptotrading“and offers” stable “returns and commissions, not exposed to” a sharp drop in the value of bitcoin. “Accepts investments from 100 euros. BullRun is the trade name used by Universal Real Properties.
In a statement sent this Monday, the commission warns that “said companies are not listed in the corresponding registry of this Commission and, therefore, are not authorized to provide investment services or other activities subject to supervision.” Regarding BullRun, it points out that it is not authorized to provide investment advice or to carry out activities reserved for collective investment institutions.
The CNMV regularly warns about these beach bars. The list of all its warnings to date can be consulted here. Being on that list means being off their radar, not having their supervision, but not necessarily carrying out a criminal act. The cryptocurrency exchange Coinbase have been on a list of suspicious entities for several years, despite being reputed in the sector and having debuted on the stock market. The list that Coinbase is on and in which BullRun was until now is the one of “other entities” or the so-called “gray list”, different from the one of “chiringuitos” in which the platform has just entered. cryptotrading.
In any case, the CNMV advises that its powers “are limited to the administrative field” and that if the user “were to feel harmed by the possible criminal actions of unregistered entities and / or persons or want to obtain financial compensation for the damage suffered should go, if he considers it appropriate, to the ordinary courts of justice. ”