The bill that regulates services linked to virtual assets, such as cryptocurrenciesis the agenda of the Plenary in the deliberative session this Tuesday (29).
The deputies analyzed a substitute for the Senate to Bill 4401/21 (former PL 2303/15), nicknamed the PL of cryptoactives. The text was authored by deputy Áureo Ribeiro (Solidariedade-RJ).
The PL had already been approved in the Chamber once, where it arose, and was then urgently approved in the Senate.
The proposal is again in the House to review the changes proposed by the senators. After approval, the next step is sanction, or presidential veto.
Among the topics that generate the most discussion is asset segregation, which ensures that user funds are distinct and separate from the funds of companies that trade crypto assets.
For Bernardo Srur, director of the Brazilian Association of Cryptoactives (AB Cripto), if approved later this year🇧🇷 the market will have the necessary security so that, in 2023, Brazil will continue to implement better regulation. Check out the full interview with Bernardo Srur here🇧🇷
Rodrigo Caldas de Carvalho Borges, a blockchain specialist lawyer and partner at Carvalho Borges Araújo Advogados, says that after approval, the expectation is that the law will be submitted for presidential sanction still in this legislature.
The lawyer, who is also the founder of the Oxford Blockchain Foundation, comments that he expects the presidential sanction to be accompanied by the issuance of a decree indicating the Central Bank as the authority responsible for infralegal regulation and market monitoring.
“The perspective is that the text will be sanctioned by the presidency without vetoes, in the way it is approved by the Chamber, considering the long legislative process – started in 2015 – and the absence of controversial points in the text”, he says.
Marcus Pessanha, a lawyer specializing in regulatory law and a partner at Schuch Advogados, also comments that the The trend is for it to be approved still during the 2022 legislature, and taken to the sanction of President Jair Bolsonaro, who “should approve the text without vetoes, due to the stance of him and his political-economic team that dedicated themselves to more economic issues. liberals.”
“Even if we have the approval of the bill in 2022 or even in the next legislature, there is no safe and precise solution to the issue of crypto assets, since the legislator referred each type of crypto asset to specific regulators for regulation. This means that we can say that the PL was flawed in the issue of regulatory security for cryptocurrencies and cryptoassets”, he says.
In his opinion, the bill missed the opportunity to deal with elements that are very important for the segment, such as, for example, the content of Whitepapers – official documents.
“Whitepapers are written documents that accompany the launch of cryptocurrencies and cryptoassets on the market, with their commercial, economic and legal standards. This could have been addressed by the bill and it was not”, he says.
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