Bitcoin regulation in Brazil is an issue that has been growing in the national public sphere, with bills being processed in both houses of the National Congress.
However, this is a topic of interest to legal professionals as well, as they will act in cases in the judiciary. It is worth remembering that many cases have already been tried in court involving the cryptocurrency market, but without using a specific regulation for this.
As a result, the International Compliance Congress has emerged in recent years to learn more about the compliance culture in Brazil. This word means that companies and institutions are creating rules to comply with legal and regulatory requirements.
Although in the case of Bitcoin a specific law has been approved, rules are already complied with by companies, such as the Normative Instruction of the Federal Revenue n.º 1.888, among others.
Bitcoin regulation in Brazil will be discussed by professionals at the 8th International Compliance Congress
From November 30th to December 2nd, the 8th International Compliance Congress takes place, the largest event in the sector in Latin America. Its objective is to connect professionals from Compliance and other areas of expertise for knowledge exchange and networking.
Organized by LEC Legal, Ethics & Compliance, at Villa Blue Tree, in São Paulo, the meeting it is an immersion of three days of lectures and workshops that cover the main points that permeate the Compliance area.
As in previous years, the first day (11/30) will be dedicated to the 15 programmed workshops, with topics ranging from LGPD to Money Laundering Prevention and Terrorism Financing.
On the second day of the event (1/12), the main lectures begin, one of which is aimed at discussing Bitcoin regulation in Brazil. The speakers will be Julieti Brambila (Head of Cryptocurrency Compliance at Méliuz), Isac Costa (professor and consultant) and Vytautas Fabiano Silva Zumas (PC-GO Delegate).
This panel will aim to discuss the advantages of technology, such as smart transactions and contracts. However, it will also be discussed about the possibility of using Bitcoin and other cryptocurrencies for crimes such as money laundering, for example.
One of the main objectives of this way is to discuss the regulatory moment experienced by the country.
How is the regulation in the country?
Companies in the cryptocurrency sector already report transactions to COAF, the Internal Revenue Service and work together with authorities in criminal investigations. In other words, although there is no law for the sector, self-regulation is already working and is currently effective in combating crimes with this technology.
Anyway, in the Chamber of Deputies a bill awaits a vote in plenary to advance to the Senate, proposed by Deputy Aureo Ribeiro (Solidariedade-RJ).
In the Federal Senate, other bills are being processed at the house, all joined since their content was similar, but there are still no signs that their processing will be fast.