#CryptoRegulation

The regulation of crypto assets in Brazil is under development, with the Central Bank (Bacen) leading the process. The goal is to ensure the safety of investors and the integrity of the market, without hindering innovation and the development of new technologies. The regulation also aims to combat money laundering and the financing of terrorism, with measures such as user identification and transaction tracking.

Aspects of the regulation:

Legal Framework for Crypto Assets (Law 14.478/2022):

The law establishes guidelines for the regulation of virtual asset service provision.

Public Consultation BCB 109/2024:

The Central Bank held a public consultation on the regulation of the crypto asset market, aiming to collect suggestions and comments.

Division of companies:

The BCB plans to divide companies operating in the crypto asset market into intermediaries, custodians, and brokers, with specific rules for each type of company.

Prevention of money laundering:

Companies operating with crypto assets are required to adopt control and prevention measures against money laundering, including user identification and transaction tracking.

Supervision:

The regulation aims to increase the supervision of exchanges and service providers of crypto assets, in order to ensure the safety of investors and the integrity of the market.

Income Tax Declaration:

Investors conducting transactions with crypto assets must declare the operations in their Income Tax if the values exceed R$$ 5 thousand.

Requirements from the Central Bank:

The Central Bank has established requirements for the authorization of exchanges' operations and for the operation of other companies in the crypto asset market.

Transaction tracking:

The Federal Revenue and Coaf use advanced technology, including artificial intelligence, to track transactions with crypto assets and identify possible illicit activities.

What do you think?

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