CVM releases new innovation policy that impacts cryptocurrency market
Amid the new rise of bitcoin in the world and a “wave” of regulation in Brazil on the subject, the Securities and Exchange Commission (CVM) released a new ordinance on the technological innovation policy that may affect cryptocurrency products in the country.
According to Livecoins, several bills are reaching the National Congress to address issues related to the crypto market. From the regulation of stablecoins to a project to create a national bitcoin reserve, lawmakers are discussing the country's future in the sector.
In addition, the Central Bank of Brazil has several public consultations open, both to implement the rules of Law 14.478/2022 and to regulate the assets themselves, such as stablecoins. The Brazilian Federal Revenue Service also has a public consultation open to change the way cryptocurrencies are taxed with DeCripto. Thus, the CVM's new policy comes at a decisive moment for the country's investors, who are still watching the increasing market regulation with a suspicious eye.