BRAZIL

On november 30, the Economic Affairs Committee addressed the bill that seeks to discipline the services related to crypto-assets transactions on e-commerce platforms. In this instance, the assigned senator presented a report that asks for the approval of the initiative. You may access the bill, including the report, by clicking here.

On this occasion the senator Iraja (PSD-ruling party), who was assigned to present a report about the bill, in which it recommends the Committee to approve or reject the initiative, stated that the bill should be passed on, but with some modifications. 

The main change that he proposed was in the first article. The senator proposed to replace it by “this law provides guidelines to be observed in the provision of virtual asset services and in the regulation of virtual asset service providers.” Instead of the original article which is: “this law aims to regulate the services related to operations performed with crypto-assets on electronic trading platforms.”

It should be noted that the bill was not voted on, but it was appealed an article of the Senate’s regulation which establishes that if in five days no member of the Committee disagrees with the bill, the opinion of the assigned senator (in this case senator Iraja) will be the opinion of the whole committee, meaning the approval of this initiative.