Central Bank to regulate cryptocurrency companies

Luigi Mauri
14/06/2023
Economy

The Central Bank will regulate the provision of services with cryptocurrencies in Brazil, according to published in the Official Gazette of this Wednesday (14).

The Central Bank now regulates “the provision of virtual asset services”, in addition to “regulating, authorizing and supervising virtual asset service providers”.

This decree regulates Law No. 14,478 of December 21, 2022, also known as Marco Legal das Cryptocurrencies.

In this way, the Central Bank, chaired by Roberto Campos Neto, will discipline the functioning of cryptocurrency service providers.

According to the decree, the determinations do not apply to assets representing real estate securities, nor does it change the powers of the Securities Commission (CVM).

The Decree will come into force on June 20, 2023, next Tuesday.