{"id":614077,"date":"2023-03-04T06:51:29","date_gmt":"2023-03-04T12:51:29","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/03\/04\/brazilian-regulator-says-new-crypto-laws-coming-heres-what-to-expect\/"},"modified":"2023-03-04T06:51:29","modified_gmt":"2023-03-04T12:51:29","slug":"brazilian-regulator-says-new-crypto-laws-coming-heres-what-to-expect","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/03\/04\/brazilian-regulator-says-new-crypto-laws-coming-heres-what-to-expect\/","title":{"rendered":"Brazilian Regulator Says New Crypto Laws Coming \u2013 Here\u2019s What to Expect"},"content":{"rendered":"
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Brazilian Regulator Says New Crypto Laws Coming \u2013 Here\u2019s What to Expect<\/h2>\n
\"An
Source: f11photo\/Adobe<\/figcaption><\/figure>\n

The head of the Brazilian<\/a> financial markets regulator says the body will roll out a \u201cdecree\u201d in \u201cthe next few days\u201d that will allow government-appointed bodies to better police the sector.<\/p>\n

Per the newspaper O Globo<\/u><\/a>,<\/u> Jo\u00e3o Pedro Nascimento, the President of the Securities and Exchange Commission (known in Brazil as the CVM), stated that \u201ccryptoeconomics\u201d would work alongside \u201cthe traditional economy.\u201d<\/p>\n

He also added that the decree will likely grant the CVM the power to determine which tokens are securities.<\/p>\n

The CVM is expected to begin \u201cregulating all crypto assets that fit the definition of security,\u201d the newspaper noted.<\/p>\n

Nascimento was quoted as stating:<\/p>\n

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\u201cWhenever something touches on the field of securities, it will fall under the remit of the CVM.\u201d<\/p>\n<\/blockquote>\n

The Central Bank is expected to function as the regulatory body for tokens that are not classified as securities.<\/p>\n

The CVM chief stated that crypto regulation had thus far been \u201cvery well received\u201d by the sector.<\/p>\n

Nascimento added that the CVM is also focusing on a decentralized finance (DeFi) project called Open Capital Market. He stated that the CVM was working on the project in conjunction with the Central Bank.<\/p>\n

He explained:<\/p>\n

\n

\u201cWe are going to bring decentralized finance to the capital market. It will start with the transfer of custody of funds.\u201d<\/p>\n<\/blockquote>\n

The regulatory chief said he expected Open Capital Market to roll out sometime this year.<\/p>\n

Yet More Regulations Incoming for Brazil\u2019s Crypto Sector?<\/h2>\n

Nascimento, late last year, claimed that the CVM\u2019s regulations would not hamper domestic crypto market development<\/a>.<\/p>\n

The CMV chief also stated at the time that his objective was to \u201chelp the development of the crypto space\u201d \u2013 and to avoid making \u201crules\u201d that could \u201cstrangle\u201d the sector.<\/p>\n

Last month, the Central Bank claimed it was also looking to tighten crypto regulations. And it stated that its central bank digital currency (CBDC<\/a>) project, the digital real, would help foster domestic businesses.<\/p>\n

The bank claimed that while other nations were focusing on retail-focused CBDC models, the digital real was being designed with a view to helping small businesses grow at a faster rate.<\/p>\n<\/p><\/div>\n

Read More<\/a>
\n Maribel Klemp<\/p>\n","protected":false},"excerpt":{"rendered":"

Brazilian Regulator Says New Crypto Laws Coming \u2013 Here\u2019s What to Expect Source: f11photo\/AdobeThe head of the Brazilian financial markets regulator says the body will roll out a \u201cdecree\u201d in \u201cthe next few days\u201d that will allow government-appointed bodies to better police the sector.Per the newspaper O Globo, Jo\u00e3o Pedro Nascimento, the President of the<\/p>\n","protected":false},"author":1,"featured_media":614078,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[24425,330],"tags":[],"class_list":{"0":"post-614077","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-brazilian","8":"category-regulator"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/614077","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=614077"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/614077\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/614078"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=614077"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=614077"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=614077"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}