According to the leader of the Federal Government in the Chamber, Ricardo Barros, the bill is set to be discussed, but there are still no reports on a possible vote as the Chamber is set to also discuss other time-sensitive bills.Brazil is getting closer to regulating cryptocurrency assets and virtual asset service providers . The cryptocurrency bill, identified with the number 4.401/2021, is set to be addressed this week, alongside other time-sensitive bills.
of two different projects as part of the work of its proponents, who wanted to approve a crypto-centric law this year.by the Brazilian Senate in April and seeks to regulate cryptocurrency exchanges by creating a single regulator to deal with the issue. In the same way, the project legalizes cryptocurrency mining, and establishes tax exemption rules for mining institutions that present green projects using 100% renewable energy for the establishment of mining farms.
In earlier interviews, the deputies behind this cryptocurrency bill project have stated that one of the biggest motivations behind the law is to punish cryptocurrency scams in the country. For this purpose, the project also defines a new kind of crypto-related crime and establishes harsh penalties for individuals and companies involved in this kind of crime.
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