Brazilian President Luiz Inácio Lula da Silva, identified to many as merely Lula, has signed a regulation that clarifies the roles of the nation’s central financial institution and securities regulator within the subject of cryptocurrencies.
June 14 President Lula introduced signed authorities decree no. 11.563 establishing guidelines underneath 2022 Sec. December. the Legislation on the Authorized Framework for Cryptocurrencies in Brazil. The regulation empowers Brazil’s central financial institution to control and oversee digital asset service suppliers, and ensures that many token initiatives which are thought-about securities will proceed to fall underneath the jurisdiction of the Comissão de Valores Mobiliários, or CVM, Brazil’s equal of the U.S. Securities and Change Fee.
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