The approval by the Senate and the Chamber of Deputies has facilitated the plan of President Jair Bolsonaro of Brazil to implement a bill on the regulation of the cryptocurrency market.
Be informed that every company involved in crypto must adapt to the new rules that will be enforced within 180 days so that they do not make any mistakes.
Among the advantages of the following bill is allowing registered crypto companies that offer digital asset financing services or the conversion of crypto assets to the national currency to set up physical offices.
Apart from that, the law also opens the door for a new federal agency to regulate digital asset companies and create licenses for virtual asset service providers.
While digital assets that are considered securities will be overseen by the Brazilian Securities and Exchange Commission (SEC) while digital assets that are not securities are controlled by companies that have not yet been established.
On the other hand, Indonesia is currently grappling with a bill that transfers crypto regulation to the Financial Services Authority, but away from the Commodity Futures Trading Regulatory Agency.
While the Canadian Securities Administrators has reportedly set rules last week that prohibit providers from trading cryptocurrency margins to citizens of the country.
