CVM BRAZIL

In your opinion, how can the laws being created around cryptocurrencies in Brazil impact our investments in Brazil?

Can this be positive or negative for us?

The Brazilian Securities and Exchange Commission (CVM) has released a new technological innovation policy that seeks to strengthen supervision over the cryptocurrency market in Brazil. The measure comes at a time of global growth in bitcoin and increasing regulation in Brazil.

Main points of the new policy

General Objective: The ordinance, published on December 4 and valid from December 6, 2024, aims to organize and structure actions related to technological initiatives in the capital market, improving the understanding of innovative business models and communicating results more effectively

Supervision: The CVM intends to:

Study risks associated with cybersecurity and new technologies.

Intensify supervision of crypto assets classified as securities.

Combat fraud and illicit practices in the sector.

Coordination: The Center for Regulation and Applied Innovation (CRIA), created in 2023, will be responsible for implementing the policy, with quarterly meetings to monitor the market.

Context and other initiatives

Central Bank: Holds public consultations to regulate stablecoins and implement Law 14,478/2022.

Federal Revenue: Studies changes in cryptocurrency taxation through the DeCripto project.

Projects in Congress: Debates include the regulation of stablecoins and the creation of a national bitcoin reserve.

Impact on the market

The policy may restrict or ban crypto products considered dangerous, but it also seeks to protect investors and curb fraudulent activities. An example of this was the partnership with ABCripto, in October, to launch the ContraGolpe tool, aimed at identifying illegal schemes.