Legislative project determines the period to decide on cryptocurrency regulations in Brazil - regulation Bitcoin News
Legislative project determines the period to decide on cryptocurrency regulations in Brazil - regulation Bitcoin News
A legislative project presented in the Brazilian National Congress in June has recently moved into the spotlight because it sets a fixed period for the executive to start regulating cryptocurrency transactions. If the proposal is approved, the payment of taxes for transactions on cryptocurrency base will be determined. The project is assessed by the Chamber of Deputy and must be analyzed by the Finance and Tax Committee.
cryptocurrency transactions are to be regulated in Brazil
A legal project proposal, Bill 2140/21, that was introduced into the Brazil Chamber of deputy in June, is now in the spotlight because it sets a fixed period for regulating cryptocurrency transactions for the executive of the government. In the event of approval, there would be a period of 180 days to develop all the necessary structures to effectively regulate cryptocurrency transactions. The project was presented by the deputy Alexandre FROTA , part of the Partido de la social democracia brasileña (psdb).
FROTA explains that the lack of clear regulation for cryptocurrencies endangers investors and the traditional financial system, since crypto can help bring money out of the country without supervision. Frota explained:
In private and public banks, rigorous regulation and control is necessary so that the population is not deceived with promises of high individual profits, which has already been largely done.
In recent years,Brazil has been a country that is known for its crime in connection with fraud in connection with cryptocurrencies. The state acted quickly when it came to stopping and organizing these plans Multiple Operation for illegal activities in Connection with cryptocurrencies to close and arrest in recent months.
taxes could come
Another important part of the project states that business is to be checked abroad according to the same rules as for banks, including taxation standards. Due to the nature of cryptocurrency transactions, it is still unclear how this could be done. This problem is currently being made by a Special committee The Chamber of Deputies.
However,Brazil is very open to the output of a digital central bank currency. The Central Bank of Brazil is research the creation of a digital real and the discussion, whether such an instrument is really Brazilian population is required.
What do you think of the regulation and taxation of cryptocurrency transactions? Tell us in the comment area below.
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