National Secretary of Justice Augusto de Arruda Botelho said at an event last week that the issue of cryptocurrencies is a difficult one and that authorities associated with consumer inspection in Brazil are dealing with the issue on a daily basis.
Augusto participated in the 30th meeting of the National Consumer Secretariat (Senacon) in Rio de Janeiro, which took place last Friday (2).
In his speech, he recalled that there is no mamata in the Lula government and that he works a lot and earns little to perform his role. Moreover, he recalls that one of the challenges of the Ministry of Justice and Public Security, headed by Minister Flávio Dino, concerns access to justice.
Botelho noted that his work focuses on conflict resolution, facilitating people’s access to additional forms of the judicial system, which is overloaded with demands. According to the secretary, today there is a lawsuit for every 3 people in Brazil.
“Cryptocurrencies and online betting are extremely difficult topics in consumer relations,” says the Secretary of State for Justice
In his short speech at the consumer issue event, the National Secretary of Justice, Augusto Botelho, reminded that there are several challenges. But with the cryptocurrency market, he pointed out that the situation is new and very difficult to regulate.
“These are the challenges that will be presented to you, gentlemen and ladies, because it’s a consumer relationship there. To come to the end of my speech, a new challenge and this is the one I want to draw attention to because it is a new topic for all of us. The National Secretariat of Justice and the National Secretariat of the Consumer Association and the issue of cryptocurrencies, for example, is a novelty, it is an extremely difficult consumer relationship to regulate. The regulation is there, it is now being discussed. Another extremely difficult subject that involves people who love football a lot is online betting, look at the scandals we are now seeing in football championships, unfortunately.”
Cryptocurrencies, it is worth remembering, will receive Cryptocurrency Law No. 14.478/2022 on June 19, 2023, which will come into force. In the coming days, the national market awaits the formalization of the rules through a decree.
Finally, the Secretary stated that the challenges will be posed again at any time and that in a new government they cannot be left behind and must pay attention, commitment and dedication to the most vulnerable parts of the population. “The consumer is always the most vulnerable part,” concluded the minister.
State Secretary defends regulation of social networks: “freedom of expression has limits in the law”
In addition to commenting on the problems of cryptocurrencies and online betting, the Secretary of State for Justice stated that he supports the regulation of social networks.
According to him, the self-regulation of the platforms failed and rules should be established through formal regulation in the future.
The SENACON event with SNDC is still available on the YouTube channel of the Ministry of Justice and Public Security.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
