This 4 of September will be held a hearing in the Chamber of Deputies of Brazil between the Special Commission that is studying the regulation of the cryptocurrencies and banking representatives. The purpose is to discuss the scope of legislation to this ecosystem in the south american country.The document prepared to request for this hearing was published in the portal of the Chamber of Deputies. The Special Commission, which is studying both the regulation of virtual currencies (including bitcoin) as the frequent flyer programs of airlines, he stressed that the plenary session will be attended by the representatives of the Brazilian Federation of Banks (Febraban); Bitcoin Bank, an organization that provides a physical structure for investments and trade of cryptocurrencies; and the National Association of Experts, Federal Criminal (APCF).In fact, Leandro Vilain, director of Business and Operations of Febraban, like Tiago Barroso de Melo, representative of the APCF, confirmed their presence at the hearing. Among other guests to be confirmed are representatives of Bitcoin Bank, NegocieCoins, and TemBTC.They knew besides, that the hearing will also address aspects related to the security and compliance of people who possess criptoactivos. To this were invited Ana Bati, a specialist in criptoactivos; Renata B. Souto Maior Baião, a specialist in blockchain and digital law; and Evandro Camilo, a specialist in anti-money laundering and know your client (AML/KYC) and compliance in the sector cryptocurrencies.De similarly, it will discuss the tax issues of the cryptocurrencies with the following guests: Tatiana Praxedes, a member of Malgueiro Campos Advogados and is a specialist in the taxation of cryptocurrencies; Rafael Pontes de Miranda, specialist in tax law by the Brazilian Institute of Tax Studies; and Geanluca Lorenzon, director reduction of bureaucracy of the Secretariat of Bureaucracy, Administration and e-Government the Ministry of Economy. They were also asked Camila Villard Duran, a professor of the University of São Paulo; Rosine Kadamani, a fellow of the Academy Blockchain; and the minister of the Superior Court of Justice (STJ), Nancy Andrighi.
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Proposals in discussion
The web site of the Chamber of deputies also mentioned that in 2016, a special committee followed the proposal made by the deputy Aureo Ribeiro (party Solidariedade-RJ), of open market cryptocurrencies for consumers who want to invest and even to make payments using virtual currencies in Brazil.However, in December of 2017, the deputy Expeditious Netto defended the prohibition of the cryptocurrencies, although his approach was not adopted. On that occasion, Netto felt that the marketing, intermediation and use of criptoactivos as a means of payment may continue to be circulated from person to person, but according to the text, he said that companies who buy and sell bitcoin, for example, could be responsible for crimes.The deputy held on December 20, 2017 that “at no time seeks to ban bitcoin or any digital currency”. At its discretion, only should be barred from the brokerage, taking into account that “the BTC local is up to 20% more expensive than the american or the european”.
Search for rules
The deputy Netto expected to show its report by November 21, and prior to that date also intends to publish a version of the draft text for public consultation, through the portal e-Democracy. Aureo Ribeiro, for his part, insists that he can close the market of brokers or the marketing of bitcoins.What is certain is that this country is still looking for how to set rules for the use of the cryptocurrencies. The Securities and exchange Commission of Brazil opened the discussion on projects with cryptocurrencies. There will be discussed with the representatives of projects relating to cryptocurrencies, sandbox or litter boxes, robot, advisor, and artificial intelligence, among other innovations. With this, the agency claims that the regulation and the technological projects go hand in hand.In the most recent report of the Central Bank of Brazil (Bancen) formally recognizes the cryptocurrencies as an asset or “well-produced” that should be considered in the calculation of the balance of payments. The report was released the 26 of August last.