Brazil authorizes its central bank to regulate crypto

Brazil authorizes its central bank to regulate crypto



Brazilian President Luiz Inácio Lula da Silva has approved a new law granting regulatory authority to the central bank of Brazil over cryptocurrency firms. This move aims to ensure the supervision and control of digital asset businesses, such as bitcoin trading platforms, centralized crypto exchanges, and wallet providers, in order to protect consumers and mitigate risks associated with digital assets. The law also clarifies that Brazil's securities regulator, the Comissão de Valores Mobiliários (CVM), will retain its oversight of token projects classified as securities. This regulatory approach acknowledges the distinct nature of cryptocurrencies, encourages innovation, and safeguards investors' funds.



This development aligns with Brazil's commitment to establishing a regulatory framework for its emerging crypto industry. Fu


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#Bitcoin, #Blockchain, #Brazil, #Brazilia, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum, #News, #Regulations

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