Brazil’s new crypto law will eliminate crypto anonymous transactions

Director of the central bank claimed that the new rules of crypto will be more restricted and will eliminate anonymity of the crypto transactions.

Mauricio Moura, director of citizenship relations and supervision of conduct for the Central Bank of Brazil, stated that the central bank of Brazil is planning to bring new crypto regulation rules. 

According to Moura, the new rule will encounter all the crypto transactions in the country and they will no longer remain anonymous by nature. 

And this crypto regulation rule is under collaborative planning with the Brazilian Securities Commission. 

“I can’t say much. But the names of those involved in cryptocurrency operations will be known end-to-end. I can say that anonymity will not be an option”

Right now all the crypto companies are ordered to report all kinds of crypto transactions whether they are based on their own needs or their customers’ needs. Most of the crypto Companies are following the rules and orders. But still there are few companies which are not following the rules and orders of the Brazilian regulators. 

Moura didn’t further elaborate about the new crypto bill that the central bank will introduce.  

Already in June, few other regulatory authorities talked about these crypto regulation rules and they stated almost the same type of statement. And now this new statement of the Director of the Central banks, clearly indicates that something new is going to happen in the crypto industry with a new framework.

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