Cryptocurrencies
Brazil’s Senate Takes First Step Toward Regulating Crypto
- Senate committee approves proposal establishing ground rules
- Rappoteur says regulation to be responsibility of central bank
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Brazil’s senate took a first step toward regulating the domestic cryptocurrency market as a bill that creates ground rules for digital currency funds and their day-to-day use passed a key legislative stage.
The senate’s economic affairs committee unanimously approved the text on Tuesday. The bill now goes to a vote on the senate floor, followed by the lower house if approved, before President Jair Bolsonaro can consider signing it into law.