What is the current legislation for crypto asset oversight in Brazil?
Currently, the legislation for crypto asset oversight in Brazil is regulated by the Brazilian Securities and Exchange Commission (CVM). In 2019, CVM issued Instruction 617, which established rules for the offering of ICOs (Initial Coin Offerings) in the country. This instruction requires issuers to register with CVM and provide detailed information about the project, as well as comply with certain anti-money laundering and investor protection measures. Additionally, the Brazilian Central Bank has also issued regulations to combat illegal activities related to cryptocurrencies, such as money laundering and terrorist financing. However, it is important to note that Brazil does not have specific laws addressing the use or possession of cryptocurrencies, leaving some regulatory gaps that may need to be addressed in the future.
This mind map was published on 11 July 2023 and has been viewed 95 times.
