Brazil Working To Regulate Bitcoin In The Country Soon

The President of the Chamber of Deputies of Brazil Established a Committee to regulate bitcoin and Cryptocurrencies in the country reported on 31 May 2019.

According to the House Rules of Procedure, the Committee has been including the 34 members.

Federal Deputy Aureo Ribeiro (SD-RJ) authorized the two projects in regarding for crypto regulation, and they are also called to regulate bitcoin and other crypto-Assets in Brazil.

For the regulation of bitcoin and other cryptocurrencies in Brazil, the President of the Chamber of Deputies, Deputy Rodrigo Maia has published a bill on 2303/2015 for the creation of a special committee.

The rules to regulate bitcoin and other cryptocurrencies will be officially presented at the upcoming G20 meeting of finance ministers that possibly occurred in June hosted by the Japan country, while the companies will have to adapt the rules until 2021.