The Brazilian Association of Cryptoeconomics (Abcrypto) welcomes the initiative of the Central Bank to open, this Friday (08), two public consultations to regulate the virtual assets market, marking a significant advance in stimulating democratic dialogue about the sector in the country. This initiative is added to other important recent actions, such as those of the Federal Revenue Service and the Securities and Exchange Commission (CVM).
“ Abcrypto, as well as in previous initiatives, will actively participate in these consultations and intend to present, within the deadline stipulated by the authorities, their answers and considerations that represent the Brazilian market and its associates”, highlights the entity's CEO, Bernardo Srur.
Public Consultation No. 109 deals with the regulation of virtual assets services provided for in article 5 of Law 14,478, detailing the functioning of companies authorized by the BC and the applicable tariffs. The new rules propose the creation of three types of service providers: intermediary of virtual assets, custodians and brokers, each with governance obligations and minimum capital and equity requirements. Consultation nº 110 addresses the process of authorizations of these companies.
At the same time, the Federal Revenue announced, this Thursday (7), the opening of a public consultation to update the Normative Instruction 1,888, which regulates the declaration of crypto assets, with the new rule called decryption. In addition, the CVM is preparing to launch a public consultation on the reform of Resolution 88, which regulates crowdfunding offers and addresses debt asset tokenization.
“We know that the regulatory construction planned for this year has not yet ended, and other public consultations, such as those of the CVM, are yet to come. Therefore, the cryptorama 2024 event, promoted by Abcrypto and which will bring together the great names of the market on the 19th and 20th of November, will be an essential space to discuss the directions of the cryptoeconomics”, reinforces Srur, who adds: “ The association encourages the sector's participation in consultations, to strengthen an environment of collaboration and joint construction essential for the future of crypto-assets and digital assets in Brazil”.
