Brazil central bank plans year-end proposal for crypto regulation
BRASILIA -Brazil's central bank announced on Monday that it has decided to divide the process of regulating crypto-assets and virtual asset service providers into phases, with regulatory proposals expected by the end of this year.
In a congressional hearing last year, the bank's director of regulation, Otavio Damaso, had projected regulation to be wrapped up by June 2024. The central bank told Reuters that the first public consultation aimed to gather input from society, also addressing issues not covered by the 2022 law, such as the asset segregation of virtual asset service providers.
"The second public consultation, now focused on regulatory texts, aims to use the initial input to, once again with broad support from society, establish a robust regulatory framework," said the central bank.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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