A "Digital Asset Bill" is a generic term for legislative proposals aimed at establishing a regulatory framework for digital assets. These assets include cryptocurrencies such as Bitcoin and Ethereum, non-fungible tokens (NFTs), and other assets that exist in digital format.
The main objective of a Digital Asset Bill is to provide legal clarity and legal security for the use, trading, issuance, and custody of these assets. Generally, a bill of this nature can address the following aspects:
Regulation of trading platforms: Establish rules for the operation of cryptocurrency exchanges and other platforms that facilitate the buying, selling, and swapping of digital assets. This may include licensing and oversight requirements.
Measures against money laundering (AML) and counter-terrorism financing (KYC): Implement procedures to verify users' identities and monitor transactions, aiming to prevent illicit activities.
Consumer and investor protection: Define standards of conduct for companies in the sector and mechanisms to protect users against fraud and abusive practices.
Legal classification of digital assets: Determine the legal nature of different types of digital assets (for example, whether they are considered securities, commodities, or a new type of property).
Tax implications: Establish rules for the taxation of gains and transactions involving digital assets.
Custody-related aspects: Define rules for the secure custody of digital assets, whether through digital wallets or institutional custodians.
In the context of Brazil, there are ongoing discussions and proposals for laws to regulate the digital asset market.
