ABcrypto supports the Central Bank public consultation and reinforces the importance of the cryptocurrency market in the regulatory operations of foreign exchange

The Brazilian Crypto-Economics Association (ABcrypto) celebrates the opening of a public consultation of the Central Bank (Bacen) to regulate foreign exchange transactions with virtual assets.The text in public consultation proposes rules for operations such as international transfers and payments made through virtual assets. 

The regulation establishes that only institutions authorized to operate in the foreign exchange market and duly accredited to act as virtual transaction service providers (VASP) will be able to offer these transactions, promoting greater control and supervision in the sector. 

For ABcrypto, the opening of the public consultation reaffirms the role of the Central Bank as a protagonist in the construction of a regulatory environment, fundamental for the consolidation of the national market. The Association will actively participate in the process, as it has done in other important public consultations, such as those conducted by the Securities and Exchange Commission (CVM) and by the Federal Revenue Service. 

“The regulation needs to be built collaboratively, ensuring that the standards are clear, safe and proportionate to the risk of the activities. ABcripto is committed to contributing proposals that reflect the demands of the market and consumers, reinforcing confidence in the sector and promoting the sustainable development of digital assets in Brazil”, says Bernardo Srur, CEO of the entity. 

The public consultation of the Central Bank will be open until February 28, 2025, and ABcripto will encourage its members and other stakeholders to actively participate in this process, contributing to the advancement of democratic dialogue and the construction of a safer and more efficient market.