The law project 2.164/2021, which deals with the fate of cryptocurrencies confiscated in actions by Brazilian authorities, was added on Monday (6) to the PL 2.303/2015, text by deputy Áureo Ribeiro (Solidariedade/RJ) that seeks to regulate the sector.
In practice, this means that the two projects will proceed together. The movement is defined in article 142 of the Internal Regulations of the Chamber of Deputies, which states that “when two or more proposals of the same type are in progress, regulating identical or related matters, it is lawful to promote their joint processing, upon request of any Commission or Deputy to the President of the Chamber”.
Proposed by Deputy Weliton Prado (PROS/MG), PL 2.164/2021 determines that “all cryptoactives seized, confiscated or kidnapped by the Union or lost in favor of the Union are used in actions to fight cancer.”
The Áureo project, on the other hand, has a much broader focus on regulating the cryptocurrency sector in Brazil. The PL was approved by a special committee and is now waiting to be voted on in the Plenary.
In the PL that goes to the Plenary, it is determined that service providers of virtual assets “may only operate in the country upon prior registration, and authorization from an agency or entity of the Federal Public Administration may be required to be indicated in an act of the Executive Power”.
The measure focuses on a very sensitive point in the market: companies and exchanges that operate in Brazil, but have no legal registration in the country.
Opposition to PL
Federal Deputy Gilson Marques (NOVO/SC) is one of the most active voices in the Brazilian Congress when the topic is cryptocurrencies. The legislator criticized on his social networks the PL that went through the special commission.
In an interview with Portal do Bitcoin, Marques said that the “State should stay away from cryptocurrencies” and questioned: “Does anyone dare to say that bitcoin didn’t work? For what reason is a law going to be made for something that is working? There is a myth that is rooted in people’s subconscious that you need a law.”