Brazilians will be able to submit suggestions to regulate one of the main innovations in the financial system: cryptoassets. Defined since the end of June as the regulator of virtual assets in the country, the Central Bank (BC) intends to publish public consultation notices this semester.
According to Banco Centralthe regulation has the goal of restricting the dangers of online systems without centralized administration, at the same time that it will seek not to prevent the appearance of novelties in the segment.
Among the points to be considered are: free initiative, free competition, in addition to the protection and defense of consumers and users.
Once the regulation takes effect, groups operating in the virtual asset market will have six months to adjust to the new measures.
Also according to the BC, the consultation notices will be announced during this second semester to receive suggestions from specialists and the general public, before the final regulation on the subject.
The monetary authority evaluates international recommendations on the subject and the development of the crypto market in the country and abroad. The agency also observes the interactions of this sector with the traditional financial system.
Cryptoassets represent a chance to transform the financial system based on decentralized management, reduction of trading costs, transparency gains and integration between different types of products and services. These tools, the agency pointed out, help to increase efficiency and financial inclusion.
To lessen the risks of new technology, regulation should prevent consumers from being exposed to these assets without the respective reporting points. The BC informed that the Federal Revenue Service and the Securities Commission will also participate in the process, in a “transversal and coordinated” way.
Crypto casino betting
Definitely, this regulation of crypto assets in Brazil will help to bring even more transparency to the practice of sports betting with the exploration of these payment methods.
O crypto casino Bet999 appears ahead of the competition by adopting all existing banking solutions to optimize its player experience. After all, Bet999 is the premier destination for minigames, live casino and sports. Bet live now!
