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

Top Crypto Exchange Guadagnano $172 Milioni Grazie al Token TRUMP

Un recente report ha rivelato che il memecoin ufficiale del Presidente degli Stati Uniti Donald Trump, chiamato TRUMP, ha ottenuto...

clararosati 1 hour ago
bitcoin

Η ανοδική πορεία του Bitcoin ανοίγει τον δρόμο για επενδύσεις σε νεα κρυπτονομίσματα

Η συζήτηση για το μέλλον των επενδύσεων σε κρυπτονομίσματα έχει επιστρέψει δυναμικά, με τον γνωστό αναλυτή και υποστηρικτή των μετάλλων...

Ιωάννης Ριζόπουλος 1 hour ago
Investors Chase Snorter Token as $BONK & Solana Market Rally

Investors Chase Snorter Token as $BONK & Solana Market Rally

Bonk ($BONK) is on a tear, and it’s not slowing down. The token just extended its gains, building on a...

Aaron Walker 2 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

SHIBA INU

Shiba Inu burn rate stijgt met 2080% – de beste meme coin om nu te kopen?

Lars Diederiksen 39 minutes ago
krypto więzienie

Dwa lub więcej lat więzienia za nieautoryzowany handel krypto w tym europejskim kraju

newsbtc 43 minutes ago
Dogecoin price news

Dogecoin Poised For A Monster Rally Amid Brewing Altcoin Season

Jake Simmons 1 hour ago

Premium Sponsors

Press Releases

  • 仮想通貨おすすめ|1ドル以下の3銘柄が2027年までに200ドルの投資を200万円に変える可能性

    ...

    11 minutes ago
  • Тези 3 монети под $1 могат да превърнат инвестиция от $200 в $2 милиона до 2027 година

    Тези 3 монети под $1 могат да...

    3 hours ago
  • Synthetic Darwin Introduces Breakthrough AI With Israeli...

    3 hours ago
  • Memecoins sao ativos inspirados na cultura digital

    Floki, SPX, Bonk Tăng 10% Giữa Cơn Sốt Meme Coin –...

    4 hours ago
  • Tieto 3 coiny pod 1 $ môžu premeniť investíciu 200 $ na 2 milióny do roku 2027.

    Tieto 3 coiny pod 1 $ môžu premeniť investíciu 200 $ na...

    4 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.