The Brazilian Association of Crypto-economy (ABcripto) welcomes the Central Bank's initiative to open, this Friday (08), two public consultations to regulate the virtual asset market, marking a significant advance in promoting democratic dialogue about the sector in the country. This initiative adds to other important recent actions, like those of the Federal Revenue and the Securities and Exchange Commission (CVM).
"The ABcripto", just like in previous initiatives, will actively participate in these consultations and intends to present, within the deadline set by the authorities, your answers and considerations that represent the Brazilian market and its associates, highlights the CEO of the entity, Bernardo Srur.
Public consultation No. 109 deals with the regulation of virtual asset services provided for in Article 5 of Law 14.478, detailing the operation of societies authorized by the BC and the applicable fees. The new rules propose the creation of three types of service providers: intermediaries of virtual assets, custodians and brokers, each with governance obligations and minimum capital and equity requirements. Consultation No. 110 addresses the process of authorizations for these companies.
Parallely, the Federal Revenue announced, this Thursday (7), the opening of a public consultation to update Normative Instruction 1.888, that regulates the declaration of cryptoassets, with the new rule nicknamed DeCripto. Furthermore, CVM is preparing to launch a public consultation on the reform of Resolution 88, that regulates crowdfunding offers and addresses the tokenization of debt assets.
"We know that the regulatory framework planned for this year is not yet finished", and other public consultations, like those from the CVM, they are still to come. That's why, the Criptorama 2024 event, promoted by ABcripto and will bring together the big names in the market on the upcoming days of November 19 and 20, it will be an essential space to discuss the directions of the crypto economy, reinforces Srur, that completes: "The association encourages the participation of the sector in consultations, to strengthen an environment of collaboration and joint construction essential for the future of crypto assets and digital assets in Brazil.
