Brazil’s New Crypto Assets Regulatory Framework

One of the hottest crypto markets in Latin America, Brazil is home to a vibrant cryptocurrency economy. On November 29, Brazilian lawmakers have approved a complete regulatory framework for the trading and use of cryptocurrencies in the country. The new rules recognize bitcoin as a digital representation of value that can be used as a means of payment and as an investment asset in the largest South American nation.

The text stipulates that crypto assets considered securities will be regulated by the Brazilian Securities and Exchange Commission (CVM), while other digital assets not falling into that category will fall under the responsibility of another body to be appointed by the executive branch.

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