Good morning! Today, we discuss an important move by Brazil’s data protection regulator. A step forward for Brazil’s official digital currency. And the country’s demographic trends.
☕ If you like our work and want to give us an extra boost, you can fill up our reporters’ coffee mugs. Supporters get exclusive perks! Find out more.
A major leap for data protection regulations
The National Data Protection Authority on Monday published its framework on the punishments to be dished out to companies and government agencies that fail to protect the data they handle. Violations will be dealt with according to the severity and nature of a data breach, not to mention the various consumer rights that may be infringed in the process.
Why it matters. According to Guilherme Guimarães, chief counsel at consultancy firm Datalege, the move “gives the regulatory agency muscle” and lays the groundwork for companies to be punished. “It affects all companies that handle personal data in Brazil.”
- And that means a whole lot of companies, as even Brazil’s mom-and-pop stores handle sensitive data. As a way to force businesses to register their sales, governments allow consumers to get tax refunds if they attach their CPF...