Another deputy from the Liberal Party (PL) suggests that the regulation of crypto derivatives could increase revenue for the Brazilian state.
PL Deputy from Rio questions the Minister of Finance (Photo: Bruno Spada/Câmara dos Deputados)
Federal Deputy Sóstenes Cavalcante (PL-RJ) submitted a question to the Minister of Finance, Fernando Haddad, regarding the possible regulation of the bitcoin and cryptocurrency derivatives market in Brazil for greater tax collection, this Thursday (24).
In the initial phase, the request still needs to be approved in the Chamber to move on to the Ministry of Finance. In any case, it indicates that lawmakers want greater regulation of the cryptocurrency market for fiscal purposes.
"Requests the Excellency Mr. Minister of Finance, Mr. Fernando Haddad, for information on studies, estimates, and economic and regulatory analyses regarding the eventual regulation of the derivatives market referenced in virtual assets in Brazil, as well as its potential tax revenue and impact on fiscal policy," says the request analyzed by the report.
Deputy Sóstenes demands information about the tax revenue potential of cryptocurrency derivatives in Brazil (Reproduction).
With pressure from PL deputies in the Chamber, the Minister of Finance must respond if there are any studies underway regarding the cryptocurrency and bitcoin derivatives market in Brazil: "it increases investor protection"
In justifying the presentation of his questions, Sóstenes stated that a regulated market for cryptocurrency derivatives would fill a significant gap in Brazil. Moreover, he indicates that it increases protection for investors, as well as federal tax collection.
"The absence of regulation for the derivatives market referenced in virtual assets in Brazil represents a significant regulatory gap, both in terms of investor protection and federal tax collection. In mature markets, such as the United States and Singapore, such financial instruments are already regulated and represent a significant fraction of the trading volume of digital assets," he justifies.
In any case, he argues that regulation in accordance with principles of economic freedom helps improve Brazil's image in the world.
It is worth noting that Livecoins reported on Monday (21) that Federal Deputy Luiz Philippe de Orleans e Bragança (PL-SP) is also demanding information from the Finance Ministry about the regulation of Bitcoin derivatives.
Current market rules do not allow derivative instruments
Currently, the cryptocurrency market is regulated by Law 14.478/2022, in addition to IN 1.888/2019 from the Federal Revenue. However, an MP regarding investments and cryptocurrencies currently in Congress could increase the requirements for investors starting in 2026.
Even so, no regulation currently in force allows platforms to enable Brazilians to trade cryptocurrency derivatives, whether in futures markets, options, or any other similar instruments. The CVM itself has been closely monitoring such offers and has issued several stop orders in the past against exchanges.
