Chamber of Deputies of Brazil will discuss with the banking sector cryptocurrency regulation.

On September 4, a hearing will be held in the Chamber of Deputies of Brazil between the Special Commission that studies the regulation of cryptocurrencies and bank representatives. The purpose is to discuss the scope of a regulation for this ecosystem in the South American country.

The document prepared to request this hearing was published on the website of the Chamber of Deputies. The Special Commission, which studies both the regulation of virtual currencies (including bitcoin) and frequent airline flyer programs, highlights that the plenary session will be attended by representatives of the Brazilian Federation of Banks (Febraban); Bitcoin Bank, an organization that offers a physical structure for cryptocurrency investments and commerce; and the National Association of Federal Criminal Experts (APCF).

In fact, Leandro Vilain, director of Business and Operations of Febraban, as well as Tiago Barroso de Melo, representative of the APCF, confirmed his presence at the hearing. Among other guests to be confirmed are the representatives of Bitcoin Bank, NegocieCoins, and TemBTC.

It was also known that the audience would also address issues related to the safety and compliance of people who have crypto assets. For this, Ana Bati, a cryptoactive specialist, was invited; Renata B. Souto Maior Baião, specialist in blockchain and digital law; and Evandro Camilo, money laundering specialist and meet his client (AML / KYC) and in compliance in the cryptocurrency sector.

Similarly, the tax aspects of cryptocurrencies will be discussed with the following guests: Tatiana Praxedes, partner of Malgueiro Campos Advogados and specialist in cryptocurrency taxation; Rafael Pontes de Miranda, a specialist in tax law by the Brazilian Institute of Tax Studies; and Geanluca Lorenzon, director of bureaucracy reduction of the Secretariat of Bureaucracy, Administration and Digital Government of the Ministry of Economy. Also invited were Camila Villard Duran, a professor at the University of São Paulo; Rosine Kadamani, a member of the Blockchain Academy; and the Minister of the Superior Court of Justice (STJ), Nancy Andrighi.

The website of the Chamber of Deputies also mentions that in 2016 a special committee attended the proposal made by Deputy Aureo Ribeiro (of the Solidariedade-RJ party), to open the cryptocurrency market for consumers who wish to invest and even make payments with virtual currencies in Brazil.

However, in December 2017, Deputy Expedito Netto defended the ban on cryptocurrencies, although his approach was not approved. On that occasion Netto considered that the commercialization, intermediation and use of crypto assets as a means of payment could continue to circulate from person to person, but according to the text, he said that companies that buy and sell bitcoin, for example, could be responsible for crimes.

The deputy said on December 20, 2017 that «Bitcoin or any digital currency will not be banned at any time». At its discretion, brokerage should only be prohibited, taking into account that “the local BTC is up to 20% more expensive than the US or European.”

The deputy Netto plans to show his report before November 21 and before that date he also intends to publish a draft version of the text for public consultation, through the e-Democracy portal. Aureo Ribeiro, meanwhile, insists that the broker market and the commercialization of bitcoins cannot be closed.

The truth is that this country is still looking for how to establish rules for the use of cryptocurrencies. The Brazilian Securities Commission opened the discussion on cryptocurrency projects. There they will discuss with the representatives of projects related to cryptocurrencies, sandboxes or sandboxes, robot advisers and artificial intelligence, among other innovations. With this, the entity intends that regulation and technological projects go hand in hand.

In the most recent report of the Central Bank of Brazil (Bancen) it officially recognizes cryptocurrencies as an asset or well produced that should be considered in the calculation of the balance of payments. The report was released last August 26.


Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.

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