Director of the Central Bank of Brazil: “We will make anonymity impossible”

The Brazilian regulator is extremely dissatisfied with the anonymity of cryptocurrency transactions and promised to gain full control over hidden information in the near future.

The director of institutional relations, citizenship and oversight of the behavior of the Central Bank of Brazil, Maurício Moura, expressed clear dissatisfaction with the lack of regulation and the anonymity of cryptocurrency transactions.

Moura said that the Central Bank, together with the Chamber of Deputies and the Brazilian Securities and Exchange Commission, is participating in the development of new rules prohibiting Brazilians from hiding transactions with crypto assets.

“I can’t say much. But the names of all participants in the cryptocurrency transaction chain will be known to us from start to finish. I can definitely say that anonymity will become impossible, ”said Moura.

The regulator considers the current legislation to be too lenient, since cryptocurrency companies and exchanges in Brazil, using its imperfection, avoid providing data on their operations and the operations of their clients.

In late August, Brazilian Central Bank President Roberto Campos Neto called on the country’s regulators to tighten control over digital assets. The position of the Central Bank of Brazil and concern about the need for legislative regulation of the cryptoindustry is fully shared by the head of the Brazilian Securities and Exchange Commission Otto Eduardo Fonseca de Albuquerque Lobo. He, like Mauricio Moura, believes that the Brazilian cryptocurrency industry is practically not under the control of regulators, and this situation needs to be urgently changed.