Brazil Gets Crypto-Trading Ground Rules as Bolsonaro Signs Law

Brazilian President Jair Bolsonaro signed into law the country’s first framework for cryptocurrency, with ground rules for brokerages that offer crypto as well as the assets’ day-to-day use.

Though a formal designation is needed, the central bank is likely to be responsible for regulating and overseeing the new structure, according to the bill’s rapporteurs — the lawmakers who make changes to the original proposal — in the senate and the lower house. Companies that provide crypto will have at least six months to adapt.