The Brazilian Central Bank is ready for crypto-regulation

Brazil is among the most progressive Latin American countries, and the government has decided to hold the same course.

The Brazilian Central Bank is about to start working out the clear crypto-regulation. Roberto Campos Neto, the President of the Bank, supported this step, highlighting the necessity to consult with the local Exchange Commission (CVM).

“The financial market undergoes essential changes, and now we have new realities. We need to enhance the regulation to empower investors to access regulated and secure products” – Neto commented on the future changes.

The Brazilian officials want to lead the crypto market, understanding its enormous potential and new opportunities for the local economy. Clear regulation is among the most effective steps to attract crowds of crypto investments and crypto-friendly businesses.

Earlier this year, Brazil became the second country to approve a claim for launching a BTC-based ETF. Then the country hosted the first Ethereum-based ETF in Latin America. The tendency is pretty obvious – the government aims to create a powerful legislative base to allow crypto-related companies to easily work in Brazil.

As of today, Brazil is the second-largest Latin American country according to the number of crypto holders, and the third-largest one according to the number of installed crypto ATM machines.