Brazil Daily

🪙 Brazil aims at crypto oversight

Good morning! Today, crypto is set for stricter regulation in Brazil. Lula and the Workers’ Party moving to curry favor from Evangelicals. Remote indigenous groups still left without vaccines.

Congress moves to regulate crypto

Congress moves to regulate crypto
Illustration: Home creator/Shutterstock

The Senate’s Economic Affairs Committee passed a bill on Monday night regulating crypto markets in Brazil, amid pressure from the financial sector to crack down on mounting cases of fraud involving unregulated cryptocurrencies.

  • The Senate fast-tracked the bill on a technicality — and markets expect both congressional houses to have approved it by April.

Why it matters. The bill turns crypto exchanges into financial institutions, meaning...

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