(Source: Robert Rusell/Unsplash)
Brazil’s markets regulator says it wants “transparency” in crypto and claims it is preparing a set of industry guidelines. The body is working in conjunction with the nation’s Economy Ministry – in a possible further setback for MPs hoping to regulate the sector.
Earlier this month, the Securities and Exchange Commission, known locally as the CVM, spectacularly u-turned on a distinctly laissez-faire attitude to crypto, announcing abruptly that it wanted to play a key part in crypto policy formation.
The CVM is under new management, but its former chief had appeared happy to wash the commission’s hands of the matter. Accordingly, MPs drew up a relatively pro-business private member’s bill that is now awaiting final confirmation from parliament. The eleventh-hour CVM intervention may require the President to veto the entire bill – and scupper a process that began way back in 2015.
In an official post, the CVM wrote that “cryptoassets” were one of the...
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