The Brazilian SEC Will Change its Approach to Crypto Regulation | Crypto

The Brazilian SEC Will Change its Approach to Crypto Regulation

The Brazilian SEC is planning to work on The definition of virtual assets.
– The agency will change The legal framework to The Brazilian crypto regulation.
– The major concern that The local media indicated is that The bill in question does not appear to be considered tokens as digital assets or Securities, hence it would not come under The SEC regulations.
– According to The approved text, a virtual asset is a digital representation of value that can be traded or transferred electronically and used for payment or investment purposes.
– The legislators suggest that a possible resolution would be to send The bill to The president through decree about The role of The Brazilian central Bank and The SEC expected to act in authorization of initial Coin offerings and market-based regulations.

Parliament passes Bill to tighten regulations on virtual payment service providers dealing with cryptocurrenc 1 1140x641 1 The Brazilian SEC Will Change its Approach to Crypto Regulation

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