The Speaker of the Chamber, Arthur Lira (PP-AL), told representatives of the Central Bank and the CVM (Securities Commission) that he will put the cryptocurrency bill to a vote later this year.
Lira said that the project, which has been ready for consideration by the Chamber since June, will be part of the concentrated effort that, every year, deliberates on projects considered to be priorities in an express way on the eve of the year-end recess.
BC and CVM asked for urgency after the bankruptcy of crypto exchange FTX, which filed for bankruptcy on Friday (11), after investors withdrew US$ 6 billion (R$ 31 billion) from the platform in just 72 hours.
Binance, the largest exchange of its kind in the world, was a shareholder in the company, but abandoned a proposed rescue deal that would save FTX.
At least US$1 billion (R$5.3 billion) of customer funds disappeared from the platform. The episode led Brazilian regulatory authorities to request urgency in the PL.
They said that they would rather have a basic project to tighten regulations later than not having rules for this market.
BC data indicate that cryptocurrency brokerages already move the equivalent of ‘half a stock exchange’ in the country.
According to Rodrigo Monteiro, executive director of ABCripto, an association that represents companies in the sector, the bankruptcy of FTX drew attention to the need for equity segregation between the assets of crypto brokers and the equity invested by clients.
“The bill addresses exactly this point and it is essential that it be approved so that the market develops consistently”, he said.
Julio Wiziack (interim) with Paulo Ricardo Martins and Diego Felix
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