The Ministry of the Economy announced this Friday (14) through the Securities and Exchange Commission (CVM) the rules that had been drawn up earlier this week for the cryptocurrency market in Brazil.
The municipality has published the rules of the new on its website Guidance Advice no. 40which discipline how the cryptocurrency market should trade.
The advice was already awaited by the Brazilian market, as the president of the CVM, João Pedro Nascimento, had recently stated that he would make the move.
CVM makes public the rules for cryptocurrencies in Brazil
Cryptocurrency Market Entrepreneur Daniel Coquieri, CEO of Liqi Told the live coins recently that the CVM was paying attention to the cryptocurrency market, after his company and the Bitcoin Market received requests for information.
In recent years, several cryptocurrency companies have been investigated by the CVM, which has even issued stop orders against some, such as Atlas Quantum.
With the new advice, the CVM provides guidelines on cryptocurrencies, tokens and NFTs, which must be created with permission from the municipality.
Since this Friday (14) the Official Gazette (DOU) published the advice, it is now formally considered public, as this is the role of the National Press.
How does this opinion change in practice for the market?
It is worth remembering that the role of the CVM in Brazil is to oversee investment products in the Brazilian capital market, that is, the operation of cryptocurrency brokers is not the responsibility of the municipality.
However, if the broker offers an investment product or creates its own token, it must seek advice from the CVM about the process, under penalty of fines.
“While there is still no specific legislation on the subject, this advisory is intended to ensure greater predictability and security, and to create a favorable environment for the development of crypto-assets, with integrity and in compliance with relevant constitutional requirements. and legal principles. In this way, the CVM contributes to (i) the protection of investors and popular savings; (ii) preventing and combating money laundering, (iii) preventing and combating corruption; (iv) controlling tax evasion; and (v) preventing and combating the financing of terrorism and/or the proliferation of weapons of mass destruction.”
In addition, Opinion No. 40 makes it clear that the rules may change in the future as technology changes, as well as legislation, on which a bill will soon be reviewed by the National Congress.
Source: Live Coins
John Cameron is a journalist at The Nation View specializing in world news and current events, particularly in international politics and diplomacy. With expertise in international relations, he covers a range of topics including conflicts, politics and economic trends.
