In the final days of 2024, the Central Bank invited the market to comment on its proposals to regulate the cryptoasset market in Brazil by publishing Public Consultation No. 109/24, which deals with virtual asset service providers and other institutions already authorised to operate by the Central Bank that intend to provide such services (PSAV), and Public Consultations No. 110/24 and No. 111/24, also related to the cryptoasset markets.

In an article published in JOTA, our partner Mauricio Jayme e Silva, co-authored with Marcelo Deschamps d’Alvarenga, comments on the Central Bank’s proposals and the current scenario in the sector.

According to the authors, data from the Internal Revenue Service shows that around 4 million Brazilians carry out transactions with crypto-assets every month in Brazil, with a monthly turnover of between R$15 and R$20 billion.

‘It is high time that the country had a regulation of its cryptoasset markets that is part of the global context of investments in virtual assets and that, at the same time, guarantees compliance with the guidelines set out in Article 4 of Law 14.478/22.’

Check it out in full: https://lnkd.in/dqFuBcWY