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Brazil moves to regulate local crypto market

Brazil moves to regulate local crypto market

The Brazilian Senate’s Economic Affairs Committee unanimously approved the crypto bill. If the bill successfully passes through National Congress, President Jair Bolsonaro will consider signing the legislation into law.

Regulatory clarity would help curb crimes associated with crypto assets. The intention of the project is to curb or restrict illegal practices, such as money laundering, tax evasion, and many other crimes.

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