Mark Mason
Well-known member
Brazil Crackdowns on Cryptocurrencies, Contrasts Differing Regulatory Opinions
Brazil’s government recently formed a special committee to create new cryptocurrency regulations within the country.
The order comes from Brazil’s president of Chamber of Deputies, Deputy Federal Rodrigo Maia, which is the lower house of the National Congress of Brazil and has 513 deputies. The special commission will be comprised of 34 members. This move comes after the Brazilian central bank distanced themselves from cryptocurrency by issuing statements clarifying that cryptocurrencies were not supervised, regulated or licensed to operate by the central bank and had associated risks.
Further, the Brazilian Securities and Exchange Commission (SEC) has also issued statements stating their disapproval of cryptocurrency and advised investors against investing. More prominently, the Brazilian IRS has issues a new law that will come into effect in September 2019, which will require all cryptocurrency traders and exchanges to report transactions over R$ 30,000 (~7,700 USD).
Read more - https://dashnews.org/brazil-crackdowns-on-cryptocurrencies-contrasts-differing-regulatory-opinions/
Brazil’s government recently formed a special committee to create new cryptocurrency regulations within the country.
The order comes from Brazil’s president of Chamber of Deputies, Deputy Federal Rodrigo Maia, which is the lower house of the National Congress of Brazil and has 513 deputies. The special commission will be comprised of 34 members. This move comes after the Brazilian central bank distanced themselves from cryptocurrency by issuing statements clarifying that cryptocurrencies were not supervised, regulated or licensed to operate by the central bank and had associated risks.
Further, the Brazilian Securities and Exchange Commission (SEC) has also issued statements stating their disapproval of cryptocurrency and advised investors against investing. More prominently, the Brazilian IRS has issues a new law that will come into effect in September 2019, which will require all cryptocurrency traders and exchanges to report transactions over R$ 30,000 (~7,700 USD).
Read more - https://dashnews.org/brazil-crackdowns-on-cryptocurrencies-contrasts-differing-regulatory-opinions/
