The Central Bank of Brazil is accelerating public research for cryptocurrency regulations.
The Central Bank of Brazil does a heartbeat before making crypto regulations. However, the bank wants to come to the end of this research to speed up crypto legislation.
Brazilian Central Bank wants to complete crypto research
The Central Bank of Brazil has announced plans to launch a public consultation on the regulation of cryptocurrencies. Stating that it aims to receive suggestions and feedback from experts and the public, the central bank emphasized that companies operating in the current market will have more than six months to comply with the legislation. The central bank said it would take special measures to limit the risks associated with decentralized governance systems and ensure that investors have appropriate exposure to these assets.
As of June 20, the Brazilian government handed over the regulation of crypto services to the independent central bank. However, he noted the need for coordinated action with the central bank, the revenue service and other regulators such as the Securities and Exchange Commission (CVM). This step represents an attempt at stricter regulation of cryptocurrencies by the government.
