President of Brazil Approves Crypto Rules

[{"selector":"#anim-73ac5046-0ec8-4e34-8020-68dbb3fcc05d [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(31.284090795523493%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Brazil's Senate and Chamber of Deputies passed crypto business laws, which President Jair Bolsonaro endorsed.

[{"selector":"#anim-f4c5ceef-8320-4f59-b128-7ca894cf7774 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] After 180 days, crypto firms in the region must comply with the bill, passed into law on Thursday.

[{"selector":"#anim-b07288bc-202d-426f-8fe7-9c12281a9d29 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(32.4713907387075%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] The law, which passed Parliament in late November, would allow crypto businesses to register.

[{"selector":"#anim-9f082eac-aea8-441f-8cc3-a82b6a467b45 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-34.179687404002955%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] These include crypto finance and crypto-to-currency conversion firms.

[{"selector":"#anim-2aaf6680-3fb7-415c-a228-57207c096210 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(34.18372216875583%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] It creates a "virtual service provider" licence and a federal agency to regulate digital asset enterprises.

[{"selector":"#anim-fccf87e3-8e65-4abd-9a84-b6b4c02cd7f7 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Digital securities will be regulated by the Brazilian Securities and Exchange Commission.

[{"selector":"#anim-294e3fd7-f006-4deb-8374-a86bcee6a332 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(34.19732431882569%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] The Canadian Securities Administrators banned bitcoin margin trading last week. Learn more