Brazil will discuss new legal framework on cryptocurrencies
The deputy Aureo Ribeiro introduced a bill which includes the regulation of digital assets by Parliament
In the next few days, Brazil’s parliament plans to discuss a new bill that seeks to regulate cryptocurrency operations in the nation.
This project, prepared by deputy Aureo Ribeiro, responds to a previous one that was already rejected by parliament in 2015.
At that time, Ribeiro had named the digital assets in the same way however on this occasion detailed that each cryptoactive will be treated differently separately.
The legal framework will contemplate three types of use for cryptoactives, namely, reservation of value, digital representations of real objects, and platform utility tokens.
The deputy highlighted the benefits of regulating cryptocurrencies and tokens in the country, ensuring that “technology, when promoted in a regulated environment, is a fundamental element in the reduction of fraud in commercial relations, due to the inalterability of the information displayed on a blockchain”.
On the other hand, he highlighted the power that the blockchain has within the public sector, something that will help in a great proportion to avoid corruption and money laundering.
K. Tovar
Source: Coincrispy
