Friday, January 28

Senate will hold a new public hearing on cryptocurrencies this Thursday

The Federal Senate scheduled for this Thursday (9) another public hearing on cryptocurrencies. The intention is to talk about the market and understand more the details of the technology.

In recent days, the Federal Senate has discussed the bills that are being processed at the house, which should advance in the Economic Affairs Commission (CAE). However, at the request of senator Jean Paul Prates (PT/RN), the debate on the matter was postponed.

It is important to highlight that three bills are being processed in the senate, which were joined because they had similar proposals.

The authors of the bills that regulate Bitcoin in Brazil and which are being processed together are Senator Soraya Thronicke (PSL/MS), Senators Styvenson Valentim (PODEMOS/RN) and Flávio Arns (REDE/PR).

Federal Senate sets new public hearing on cryptocurrency regulation

A public hearing is a meeting promoted by the Federal Senate promoted by house committees. At this time, authorities, experts or civil society entities are invited to discuss certain matters of interest to them and the general public.

As the National Congress discusses Bitcoin regulation, both in the Senate and in the Chamber, it has been the target of several public hearings on the subject in recent years. Recently, a public hearing in the Chamber of Deputies discussed pyramids using the image of cryptocurrencies in Brazil.

However, the new public hearing called by the Federal Senate has as authors Senator Maria Eliza (MDB/RO) and Jean Paul Prates. The meeting is scheduled for this Thursday (9), with a time yet to be announced.

According to the Senate Agency, the subject will be about the impacts of cryptocurrencies, platform services, brokers and common crimes with these digital currencies.

“The public hearing, whose timetable is yet to be announced, will address the impacts of virtual currencies, services related to transactions carried out with cryptoactives on electronic trading platforms, conditions for the operation of cryptoactive exchanges in the Brazilian economy, as well as crimes related to fraudulent use of virtual assets”.

Another date next week?

The Central Bank of Brazil (BCB), the Brazilian Securities Commission (CVM), the National Federation of Banks (Febraban) and the founder of a large Bitcoin broker in Brazil were invited to participate in the meeting.

One of the authors of bills pending in the Federal Senate, Flávio Arns, considered that the request for a new public hearing is important, as it is necessary to resolve doubts on the subject before the project advances in discussions.

As 12 experts and authorities were invited, the meeting could be divided into two dates, Thursday (9) being the first date and, next week, Wednesday (15) the second day of the public hearing. The schedule of the meetings has not yet been defined, but it is common for these to be broadcast by the TV Senate on official YouTube, so interested parties can activate notifications for videos on the official channel.

If confirmed, there is a possibility that the public hearing should push the debates on Bitcoin regulation in the Senate to 2022, as from December 23 the parliamentary recess begins in the House.