The law comes into force on June 20. As a regulator, the Central Bank will have the authority to license the activities of crypto firms in Brazil, as well as control the transfer of shares of ownership, mergers and acquisitions of participants in the digital asset market.
According to the comments of officials, the government considered the central bank capable of playing the role of a regulator of the crypto-assets industry, since the agency was actively involved in testing blockchain and Web3 technologies. In addition, the Central Bank oversees the process of creating a digital real and invited all interested parties to participate in testing the Brazilian CBDC.
The pilot project to test the digital currency of the Central Bank of Brazil will involve the international companies Visa and Microsoft.
Source: Bits
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