The approval of the Bill that regulates the cryptocurrency market in Brazil by the Federal Senate, which took place on Tuesday (26), “aims to bring more security” to the sector, according to the professor of Financial Markets at the University. Mackenzie, Thais Cinthia Cárnio.
The text also encompasses crypto-assets, such as NFTs (Non-Fungible Tokens) and stable coins – those linked to traditional assets, such as the dollar and the euro.
In an interview with CNN Radiothe professor and lawyer explained what changes with the project, which will still be analyzed by the Chamber of Deputies.
She highlighted, first of all, that cryptocurrencies are “a means of payments”, mined by private individuals rather than currency authorities, and with no specific value, only “arising from supply and demand.”
For this reason, despite being a good idea as a means of payment, crypto-assets “have been used with less noble intentions, such as for money laundering and hiding capital.”
This is because “they have a lower detection rate, with traceability different from a bank transfer, for example.”
And that is what the PL seeks to change. “The symbolic approval aims to bring more security to all of us, to investors, to the economic-financial order, and to the virtual assets market, as it gives that peace of mind to those who want to operate in this market safely.”
Once approved, the text, for Thais Cinthia Cárnio, should reduce fraud. However, she warned that the level of this security “will depend on the supervision of the entities responsible for it, such as the Securities and Exchange Commission (CVM) and the Federal Revenue (RF) itself.”
“I believe that these bodies, like many others that are important for the health of the financial market like everyone else, are overloaded, with numerous functions, what happens is an important technological advance on the part of those who defraud, for those who supervise, there is a gap, a step back in relation to follow-up”, he said.
She reinforced the need for a greater investment for the CVM and the Revenue, to have “more arms to do this work.”
Among the positive innovations for control, present in the PL, are the fact that companies need a specific authorization to be able to operate, in addition to the establishment of penalties for money laundering and other injuries to the consumer.
All this “brings clarity and transparency as a whole” and also “will help to get closer to investors who want cryptoassets, because it is still something strange and now brings greater comfort to a potential investor who wants to diversify their business.”
Source: CNN Brasil
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