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Brazil Issues Decree Regulating Cryptocurrencies, Establishes Central Bank as Crypto Regulator

Brazil Issues Decree Regulating Cryptocurrencies, Establishes Central Bank as Crypto Regulator

2023/06/15 08:43

According to Brazilian crypto media outlet Portal Do Bitcoin, Brazil's cryptocurrency regulation decree (Decree 11,563), signed by Brazilian President Luiz Inácio Lula da Silva, Brazilian Economy Minister Fernando Haddad and others, was published today in the Official Gazette of the Brazilian Union, stating that the Central Bank will regulate crypto services and has the authority to any institution to issue qualifications for market operations and to oversee the sector's operations. In addition, in cases where virtual assets are defined as securities, the Securities and Exchange Commission will be responsible for oversight. The decree will enter into force on June 20.

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