The regulation of cryptocurrencies will bring benefits to users and companies, says expert
Cryptocurrencies, this new everyday virtual money, have already passed the stage of market mistrust and are gaining more and more space in a highly connected world. Not in vain, they are consecrated as important tools in business and now they are about to gain guidelines so that their transactions fly more and more smoothly. Only this time, with more discipline and security on Brazilian soil.
The bill (4,401/2021) that deals with the regulatory framework for crypto assets in Brazil has already been approved by the Federal Senate and is awaiting the analysis of the Chamber of Deputies to enter into force. The proposal provides guidelines for the provision of virtual asset services and regulates the operation of companies that provide these services. This is very good news for the market, consumers and investors.which will now have clearer rules on transactions.
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To get an idea of the power of this new business environment, data compiled by the Central Bank, in December of last year, indicate that the cryptoactive market moved about R$ 300 billion in Brazil through centralized cryptocurrency exchanges (cryptoactive buying and selling platforms).
The amount is equivalent to the value of variable income investment products (stocks, funds, BDRs and ETFs) traded on B3, which totaled around R$ 600 billion in the same period, according to data from Anbima (Brazilian Association of Entities Market Financial and Capital), gathered by the BC.
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Still on the potential that the market promises, the undersecretary of Federal Revenue Inspection, Jonathan de Oliveira, said, in a hearing at the Commission of Inspection and Financial Control of the Chamber of Deputies, that The total number of crypto asset filers grew. more than six times between December 2019 and April 2020, from 94 thousand to 617 thousand people.
“There is no lack of data showing the growth of crypto assets. Therefore, I believe that the regulation will bring more order to the operations. In addition, I believe that all the proposals of the aforementioned PL that are being analyzed in the Chamber of Deputies may seem unfavorable in advance for Brazilian companies and organizations, but, if we analyze them well, they accelerate the adaptations of both foreign and national organizations.”, said Pedro Alexandre, CEO of Wiboo.
According to Alexander, It is necessary to provide incentives in all areas involved in this new economy. everything is still very newso it is expected that, little by little, governments and private initiative mature the best ways to adjust the bill, following the premise of providing more conditions for operations to be carried out.
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According to the expert, The point is that the regulation separates the wheat from the chaff, providing transparency to the market and conditions for the entry of traditional institutions.. Yes ok all regulations alone do not prevent illegal activities, they can certainly hinder fraud, money laundering and even discourage the continuation of numerous scams that are only practiced today due to the lack of laws to combat them.
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