Brazil will increase the penalties for financial crimes related to cryptocurrencies
The penalties are considered as part of a new statute that also regulates cryptocurrency trading
04.10.2021 - 13:55
712
1 min
0
What's new? Brazil’s special committee of the Chamber of Deputies has approved a bill that will increase the penalties for financial crimes using cryptocurrencies, according to an official statement on September 29.
Article on the portal Câmara dos Deputados
What is the law about? The latest regulatory amendments have become part of the bill 2303/15, which increases fines from one third of the laundered money to two thirds. The document also proposes to increase the minimum term of imprisonment from three to four years and the maximum term from 10 years to 16 years and eight months, in addition to a fine. The bill is the subject to further discussion at the plenary session of the Chamber.
What does the official say? The Federal Deputy Aureo Ribeiro emphasizes that the innovation will help the state to protect Brazilians from crypto-fraud schemes, noting that in Rio de Janeiro, more than 300,000 people were affected by financial pyramids with cryptocurrency.
“Because of the lack of regulation, people have nowhere to go. In Brazil, the market will develop and adjust. There will be no more speculators using technology to deceive millions of Brazilians”, Ribeiro said.
Ribeiro was optimistic about other aspects of the bill, which regulates broader cryptocurrency transactions such as trading, storage, fiat exchanges and payments. The deputy stated that Bitcoin will be accepted as payment in Brazil as soon as the bill come into force.
Useful material?
Telegram 
Twitter Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Market
The company predicts that the rate of the first cryptocurrency will grow to $200 000 by the end of next year
Nov 11, 2024
Cryptocurrency rates
-
Bitcoin
$98 088
BTC
+0.6%
-
Ethereum
$3 297.48
ETH
-1.47%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.4
XRP
+24.17%
-
Dogecoin
$0.395761
DOGE
+1.91%
-
Cardano
$0.894361
ADA
+12.11%
-
Bitcoin Cash
$477.83
BCH
-3.47%
-
Stellar XLM
$0.291802
XLM
+19.94%
-
Polkadot
$6.03
DOT
+1.79%
-
Litecoin
$89.7
LTC
-0.65%