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Central Bank of Brazil announces deadline for regulating cryptocurrencies
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THE Central Bank of Brazil confirmed that it will publish the rules for the cryptocurrency market in the first half of 2025.
The information came from Pedro Nascimento, Coordinator in the Financial System Regulation Department, during the ABRACAM Speech event, promoted by the Brazilian Association of Credit and Savings Chambers (Embrace).
Nascimento detailed the schedule and highlighted that the Public Consultations, including the one that addresses stablecoins, will end between February and March 2025.
During his speech, Nascimento highlighted the Central Bank’s commitment to promoting innovation. He pointed out that the cryptoasset market requires a modern approach and that financial institutions need adapt to the new scenario.
The coordinator also highlighted that the regulatory proposal already has significant contributions. Anbima presented a draft with axes and modules that deal with institutional products, structural changes and legal updates. These guidelines will direct impact on areas such as exchange rate and market practices.
Another point discussed was the regulation of stablecoinswhich should be published later this year. According to Nascimento, the focus will not be on the asset itself, but on the companies that operate with it.
He mentioned that the Central Bank seeks to learn from the market and international examples to create robust standards and adapted to the Brazilian reality. Among the proposals, the standardization of the use of stablecoins in the foreign exchange market stands out, establishing when there will be an incidence of IOF and requiring strict compliance.
Central Bank of Brazil announces deadline for regulating cryptocurrencies
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Central Bank of Brazil announces deadline for regulating cryptocurrencies
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Central Bank of Brazil announces deadline for regulating cryptocurrencies
