NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Brazil ’s Senate Committee Approves Bill To Regulate Cryptocurrencies. What Now?

Eduardo Próspero
Eduardo Próspero
1 year ago
3 mins read
Brazil, the flag in a football stadium.

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Who’s one step closer to regulating cryptocurrency use? Brazil is. The Senate Committee, more specifically The Committee on Economic Affairs, settled on a bill. Its aim is to regulate crypto transactions in Brazil. For the bill to become law, it has to be approved in the Senate plenary and then by the Chamber of Deputies. If it goes through those two hoops, the law goes into effect 180 days after publication.

Related Reading | Stablecoin Supply Near $200 Billion, Faster Growth Than Rest of Crypto

Even though regulation still seems far away, it’s good to remember that the bill started its journey just five months ago. When the whole world thought its aim was to declare bitcoin legal tender, NewsBTC used online translators to get to the bottom of the story. At the time, we quoted Brazil ’s premiere bitcoin journalist Saori Honorato about the future of the bill:

“Last week, the bill was approved by a special committee of the Chamber of Deputies and now goes to the Chamber’s Plenary. If approved by deputies, it advances to the Senate to be discussed once more and, if approved, goes for the president.“  

And look how far it is, already at the Senate level. It’s worth noting that Brazil ’s President still holds the power to veto the bill at any point. However, as Portal Do Bitcoin informs, there are concrete reasons to believe he approves of the bill: 

“Among the senators who voted in favor was Flávio Bolsonaro (Liberal-RJ), son of President Jair Bolsonaro. This indicates that the Chief Executive must have a favorable stance on the Senate bill.”

Why Is Brazil Behind The Crypto Bill?

Alternative versions of the bill proposed two organizations to be in charge of crypto. The Central Bank and the Federal Revenue Agency AKA the tax collectors. The approved version has another idea. “The Executive Branch will be responsible for defining which bodies will regulate and supervise business with cryptocurrencies.”

The Executive Branch will also be in charge of authorizing crypto-related operations to conduct business in Brazil. If said companies detect a suspect transaction, they’ll have to report it to the Financial Activities Control Council. Especially if it’s related to money laundering.

The key aspect of the bill is to “establish rules in line with international standards to prevent money laundering and concealment of assets, and to combat the activities of criminal organizations,” according to Portal Do Bitcoin. It also formally defines some concepts, for example, a “virtual asset”. It’s a “digital representation of value that can be traded or transferred by electronic means and used to make payments or for investment purposes.”

Related Reading | Ether EFT Gets Approval From Brazilian Securities Regulator

The bill also defines “virtual service providers”  as:

“The company that performs, on behalf of third parties, at least one of the services: redemption of cryptocurrencies (exchange for sovereign currency); exchange between one or more cryptocurrencies; transfer of virtual assets; custody or administration of these assets or instruments to control virtual assets; or participation in financial services related to the offering by an issuer or the sale of virtual assets.”

For “those who commit fraud in the provision of virtual asset services,” the bill contemplates a four to eight years sentence. Plus, a fine.

ETHBRL price chart - TradingView

ETH in Brazil, price chart on Mercado | Source: ETH/BRL on TradingView.com

Words By The Bill’s Author

In a press release quoted by Portal Do Bitcoin, Senator Irajá, the author of the bill, promises:

“We are creating a regulatory framework to ensure security and transparency. The media covered cases of financial pyramids that caused damage to companies and citizens. The cryptocurrency market has doubled in size since 2019. This milestone encourages it to continue growing, but this time fighting financial pyramids, evasions and other crimes.”

Is regulation good or bad for the cryptocurrency ecosystem in Brazil? That’s for the market to decide.

Featured Image by Pexels on Pixabay | Charts by TradingView
Tweet123Share196ShareSend
Eduardo Próspero
Eduardo Próspero

Eduardo Próspero

Eduardo Prospero is an author, a content writer, and a professional rapper.
A Bitcoin maximalist in disguise.
Working on a Bitcoin book.
Venezuelan.

Read more

He wrote a novel, but it's only available in Spanish. It's called "La Tormenta."

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

From Token Chat to 10 Cents: How FUNToken’s Group-Driven Growth Is a Model for Web3 Community Building

A common question that often pops up in people’s minds is whether it is possible for a token community to...

News BTC 4 hours ago
$30B In Bitcoin Added By Accumulator Wallets: Are Long-Term Players Preparing Early?

$30B In Bitcoin Added By Accumulator Wallets: Are Long-Term Players Preparing Early?

Bitcoin has reached a new all-time high once again, surging to $123,200 earlier today, a move that has reignited bullish...

Sebastian Villafuerte 5 hours ago
Bitcoin

Bitcoin Price Trajectory To $155,000: Why No Major Dips Are Expected From Here

The Bitcoin price is once again commanding the spotlight as bullish momentum propels the leading cryptocurrency to new all-time highs....

Scott Matherson 6 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin

$122,000 And Climbing: Bitcoin Sets New Record As ETFs Drive Demand

Christian Encila 1 hour ago
Ethereum Supply Locked Hits New ATH: Smart Money Bets On Long-Term Growth

Ethereum Supply Locked Hits New ATH: Smart Money Bets On Long-Term Growth

Sebastian Villafuerte 2 hours ago
비트코인 12만 돌파... 99비트코인 보고서가 짚은 '2025 상승장의 핵심 동력'

비트코인 11만 돌파… 99비트코인 2분기 보고서가 짚은 ‘2025 상승장의 핵심 동력’

Soyeon Lee 4 hours ago

Premium Sponsors

Press Releases

  • 2 megfizethető kriptó 9000%-os potenciállal, olyan...

    50 minutes ago
  • 2 cenovo dostupné kryptomeny s potenciálom 9 000 %, podobne ako kúpa Etherea za 8 dolárov začiatkom roku 2017

    2 cenovo dostupné kryptomeny s potenciálom 9 000 %...

    2 hours ago
  • 新BTCレイヤー2プロジェクト、仮想通貨プレセールで250万ドルを調達 — 今買うべき暗号資産とは?

    ...

    5 hours ago
  • BTC breaks through $122,300, GoldenMining users earn...

    5 hours ago
  • 仮想通貨 おすすめ|0.0015ドル以下の安価トークンがDOGEを上回り、4ヶ月で0.30ドル到達へ

    仮想通貨...

    6 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.