MetaverseNFTCoins.com
  • NFT News
  • Crypto News
  • Blockchain
  • Regulations
  • Scams
No Result
View All Result
MetaverseNFTCoins.com
No Result
View All Result

Deputies approve bill to regulate bitcoin in Brazil – CVBJ

December 11, 2021
in Regulations
Reading Time: 3 mins read
A A
Deputies approve bill to regulate bitcoin in Brazil – CVBJ
ShareShareShareShareShare

After almost 6 years in the pipeline, the bill to regulate bitcoin and cryptocurrencies in Brazil was approved by the Chamber of Deputies of that country. The legal text was discussed and sanctioned in the session of this Wednesday, December 8 at night, as reported by local media.

The approval in the Chamber of Deputies is the first instance of the path that the proposal must travel. Now it must be debated and approved by the senators of the Brazilian Congress, before reaching the Presidency of the Republic, to finally become law.

The project includes the legal definition of “virtual assets”, a name that would encompass bitcoin and other cryptocurrencies in Brazil. In the legal framework, the term “virtual assets” refers to a “digital representation of value” that can be used as a means of payment or investment in the South American country.

According to the local portal Exame, the definition seeks to differentiate cryptocurrencies from other digital assets, such as points or miles from frequent flyer programs, and even from the Brazilian CBDC, or digital real. Last May, CriptoNoticias reported that the Central Bank of Brazil made public the guidelines that will govern the development of its own central bank digital currency (CBDC).

During the session, the deputy Aureo Ribeiro said that currently more than 600 thousand people carry out transactions with cryptocurrencies in Brazil.

The proposal approved by the lower house of the Brazilian Congress was presented for the first time in 2015, by deputy Aureo Ribeiro. Since then it has gone through several changes and administrative delays, due to the culmination of the parliamentary term, the election of the new parliament and the quarantine due to COVID-19.

The project was approved with several reforms

Several of the modifications added to the text were proposed by Deputy Expedito Netto, project rapporteur. Among them, the increase in criminal penalties for crimes such as cryptocurrency fraud, or money laundering, which will receive penalties between 3 and 10 years in prison.

On the other hand, it contemplates the appointment of a supervisory body for Bitcoin, by the Executive. Deputy Netto told a local media that, “surely”, the Central Bank of Brazil, will be in charge of the supervision of cryptocurrencies.

It should be noted that there are two other projects awaiting discussion by the Brazilian parliament. As reported by CriptoNoticias, in August this year Senator Soraya Thronicke presented a bill to delimit the competence of government entities in the supervision of transactions with cryptocurrencies, depending on the context in which they are used.

Another bill was made public at the beginning of November, by the deputy Luizão Goulart. In this case, the proposal seeks to legalize the payment of wages with Bitcoin. The author of the text suggests that the system would be optional for all workers, both in the public and private sectors, in Brazil.

Credit: Source link

ShareSendTweetPinShare
Previous Post

How Cryptocurrencies Are Regulated Around The World

Next Post

Cryptocurrency: Scam warning issued as Britons lose £20,000 to crypto fraud | Personal Finance | Finance

Next Post
Cryptocurrency: Scam warning issued as Britons lose £20,000 to crypto fraud | Personal Finance | Finance

Cryptocurrency: Scam warning issued as Britons lose £20,000 to crypto fraud | Personal Finance | Finance

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Weekly Updates

How Storytelling Is Driving NFTs

How Storytelling Is Driving NFTs

January 27, 2023
Maidstone victims lose over half-a-million dollars in crypto fraud

Maidstone victims lose over half-a-million dollars in crypto fraud

January 23, 2023
Silvergate suspends payment of dividend on preferred stock

Silvergate suspends payment of dividend on preferred stock

January 27, 2023
The UAE’s Minister of State for Foreign Trade Thani Al-Zeyoudi

Koris: A Smart Contract-Based Platform

January 26, 2023
Elizabeth Warren Wants SEC to Double Down on Crypto Enforcement

Elizabeth Warren Wants SEC to Double Down on Crypto Enforcement

January 27, 2023
MetaverseNFTCoins.com

This is an online news portal that aims to provide the latest NFT news, crypto news, blockchain, regulations, scams, and much more stuff like that around the world. We promise to share only high quality content from the world's best crypto sources. Feel free to get in touch.

What’s New Here!

  • US Senator Focused on Crypto Money Laundering Crackdown — Urges Congress, Regulators to Take Action – Regulation Bitcoin News
  • Hackers Launder $27 Million in Stolen Ethereum From North Korean
  • NFT Collection A.N.I.M.O Price, Stats, and Review

Subscribe Now

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2021 - metaversenftcoins.com - All rights reserved!

No Result
View All Result
  • NFT News
  • Crypto News
  • Blockchain
  • Regulations
  • Scams

© 2021 - metaversenftcoins.com - All rights reserved!

  • bitcoinBitcoin (BTC) $ 23,766.00 3.28%
  • ethereumEthereum (ETH) $ 1,644.21 4.56%
  • tetherTether (USDT) $ 1.00 0.15%
  • usd-coinUSD Coin (USDC) $ 1.00 0.12%
  • bnbBNB (BNB) $ 317.72 4%
  • xrpXRP (XRP) $ 0.415098 1.37%
  • binance-usdBinance USD (BUSD) $ 1.00 0.02%
  • cardanoCardano (ADA) $ 0.396493 4.21%
  • dogecoinDogecoin (DOGE) $ 0.090318 2.63%
  • matic-networkPolygon (MATIC) $ 1.17 3.49%
  • okbOKB (OKB) $ 39.48 0.51%
  • solanaSolana (SOL) $ 26.12 9.33%
  • staked-etherLido Staked Ether (STETH) $ 1,640.52 4.47%
  • polkadotPolkadot (DOT) $ 6.62 3.94%
  • shiba-inuShiba Inu (SHIB) $ 0.000012 2.62%
  • litecoinLitecoin (LTC) $ 94.83 3.16%
  • avalanche-2Avalanche (AVAX) $ 20.89 2.5%
  • tronTRON (TRX) $ 0.063904 1.14%
  • uniswapUniswap (UNI) $ 6.94 5.3%
  • daiDai (DAI) $ 1.00 0.05%
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 23,691.00 2.94%
  • cosmosCosmos Hub (ATOM) $ 13.86 5.78%
  • the-open-networkToncoin (TON) $ 2.47 1.31%
  • chainlinkChainlink (LINK) $ 7.38 2.93%
  • leo-tokenLEO Token (LEO) $ 3.70 2.44%
  • moneroMonero (XMR) $ 186.47 1.27%
  • ethereum-classicEthereum Classic (ETC) $ 23.06 5.83%
  • aptosAptos (APT) $ 18.24 3.65%
  • bitcoin-cashBitcoin Cash (BCH) $ 135.96 3.06%
  • stellarStellar (XLM) $ 0.094463 1.88%
  • apecoinApeCoin (APE) $ 6.29 5.13%
  • quant-networkQuant (QNT) $ 151.74 1.64%
  • nearNEAR Protocol (NEAR) $ 2.56 4.52%
  • crypto-com-chainCronos (CRO) $ 0.082462 1.83%
  • filecoinFilecoin (FIL) $ 5.48 3.37%
  • lido-daoLido DAO (LDO) $ 2.31 3.95%
  • algorandAlgorand (ALGO) $ 0.260907 1.91%
  • vechainVeChain (VET) $ 0.024587 2.21%
  • internet-computerInternet Computer (ICP) $ 6.21 2.05%
  • hedera-hashgraphHedera (HBAR) $ 0.069667 3.9%
  • decentralandDecentraland (MANA) $ 0.801168 16.38%
  • axie-infinityAxie Infinity (AXS) $ 12.26 8.2%
  • the-sandboxThe Sandbox (SAND) $ 0.795608 8.92%
  • aaveAave (AAVE) $ 87.65 4.49%
  • fantomFantom (FTM) $ 0.487733 8.83%
  • eosEOS (EOS) $ 1.12 2.5%
  • flowFlow (FLOW) $ 1.11 5.06%
  • elrond-erd-2MultiversX (EGLD) $ 45.31 2.29%
  • theta-tokenTheta Network (THETA) $ 1.11 4.25%
  • tezosTezos (XTZ) $ 1.16 5.6%