ABcripto supports the Central Bank's public consultation and reinforces the importance of the cryptocurrency market in regulatory exchange operations

The Brazilian Association of Cryptoeconomy (ABcripto) welcomes the opening of public consultation of the Central Bank (Bacen) to regulate foreign exchange transactions with virtual assets. The text under public consultation proposes rules for operations such as international transfers and payments made through virtual assets. 

The regulation provides that only institutions authorised to operate in the foreign exchange market and duly accredited to act as virtual transaction service providers (VASPs) may offer these transactions., promoting greater control and supervision in the sector. 

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

Regulation needs to be built collaboratively, ensuring that the rules are clear, safe and proportionate to the risk of the activities. ABcripto is committed to contributing proposals that reflect market and consumer demands, strengthening trust in the sector and promoting the sustainable development of digital assets in Brazil, Bernardo Srur states, 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 to the construction of a safer and more efficient market.