The CAE (Commission on Economic Affairs) approved in the Senate this Monday (21) the basic text that deals with the regulation of cryptocurrencies in Brazil. The bill seeks to update the sector and may open avenues for new investors. If the Senate does not object, the text will go to the Chamber of Deputies.
The text, being PL 3.825/2019, occurs separately because crypto assets have differences between common securities. In addition, the Senate seeks to promote free competition, inject risk management practices and increase transaction security. In this way, the measure can be positive to attract investors who still do not take risks in the middle due to “lack of clarity and regulation”.
The bill will also subject cryptocurrency exchanges to anti-money laundering laws and seeks to implement stronger anti-fraud policies. Other proposals include a zero rate for certain taxes owed by legal entities, limited to companies that buy hardware and software to process these assets. The benefit will be valid until December 31, 2029.
In addition, another novelty presented is the creation of the CNPEP (National Registry of Politically Exposed Persons). In it, entities of the Powers of the Union, states or Federal District must keep an update on their members and former members, aiming to combat money laundering.
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