Brazil's Central Bank director says government will identify all those who have cryptocurrencies
Brazil's Central Bank director says government will identify all those who have cryptocurrencies By Hannah Perez

The head of Brazil’s monetary authority hinted that the anonymity of crypto transactions will be banned. The president of the BC, Campos Neto, had already advanced that the authorities are working on a regulation for the sector.

The Brazilian government does not seem to be very comfortable with the anonymity of transactions with digital currencies

.

According to Mauricio Moura, the current director of relations, citizenship and conduct supervision of the Central Bank of Brazil, the authorities of the South American country is working to end the anonymity of cryptocurrencies.

According to a report by Cointelegraph

, Moura said that Brazil’s next regulation could prohibit the anonymity of transactions with digital assets. To this end, he said that the Central Bank is working together with the Brazilian Securities Commission (CVM), the nation’s financial regulator.

In the same line of ideas, the director assured that, sooner or later, the government will identify all those inhabitants of the country who operate with cryptocurrencies. Moura’s statements came during a recent event promoted by the Institute of Professionals for the Prevention of Money Laundering and Terrorist Financing (IPLD). The media quoted the director’s words

:

I can’t say much. But the names of those involved in cryptocurrency transactions will be known from start to finish.

Crypto regulation is coming in Brazil

Currently, companies related to cryptocurrency services in Brazil are required to declare all transactions of their users to the respective regulatory body. However, so far, neither the Central Bank nor the CVM have specific provisions for the cryptocurrency market.

Brazil is also currently in the process of developing legislation for such assets. In recent weeks, both the Senate and the Chamber of Deputies have been debating bills for the regulation of the growing sector. According to Portal do Bitcoin

, two bills are currently under discussion in that country.

One of the latest bills before Congress proposed a fixed period for establishing cryptocurrency regulations. According to News. Bitcoin

.com, while this bill has not yet been passed, it would give the government 180 days to propose and pass a regulatory framework and tax regulations for digital currency transactions.

In any case, the issue seems to be gaining relevance for the Brazilian government, and the country’s Central Bank has a say in this regulatory process.

This is not the first time that the Central Bank has hinted at an approaching

he regulation for cryptocurrencies. Last month, Central Bank President Roberto Campos Neto stated during an online event that he was discussing with the CVM a regulation for cryptocurrencies.

At the time, the president stressed that regulation for the sector is being debated around the world as interest and demand for such assets increases. He added that it becomes necessary to clearly understand what this new economy represents in order to come up with smart regulation.

It is clearly true. Look at recent data from emerging market countries, there are more people investing in the hope of profit than using cryptocurrencies as a method of payment,” he stressed, upholding his stance that digital currencies are explored more as investments than as a means of payment.

For us, more than regulating cryptocurrencies, stablecoins, it’s about: What will be the regulation of the future? The financial market changes a lot and fast, everything becomes data. So we are trying to understand how to reshape the regulation of data, finance will be data, so it’s more than that, but we are talking to CVM about this and we understand that there is a demand for this that will be with us for a while.

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Sources: Cointelegraph, News.Bitcoin.com, Bitcoin Portal

Version by Hannah Estefania Perez / BitcoinDaily

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