Brazilian lawmakers move towards including cryptocurrencies as protected assets
Brazil is taking steps to include cryptocurrencies in the list of assets that are protected on behalf of creditors. This move follows the recognition of cryptocurrencies as tradable property. The aim is to reduce the seizure of debtors‘ assets in order to settle their creditors.
Bill number 4.420/2021, currently being debated by the Constitution, Justice, and Citizenship Committee of the parliament, initially did not include digital assets. However, there is now a separate move to include cryptocurrencies in the protected asset class.
The proposed amendment seeks to amend the Code of Civil Procedure, specifically in terms of debt enforcement and the rights of both parties. If approved, the amendment will protect the financial savings of debtors up to an amount equal to 40 minimum wages, preventing them from being seized by creditors.
Deputy Felipe Francischini revealed on September 15 that an agreement has been reached to include digital assets as part of the protected assets, following a suggestion from Deputy Fernando Marangoni. This decision acknowledges the changing investment behavior of individuals, as traditional savings accounts are losing ground to other forms of financial investment.
This development is a result of the directive given by the President to the country’s Central Bank to regulate digital assets and the firms that issue them. As a result, Brazil has established a framework for digital assets and has become an emerging market for Web3 in South America.
Brazil has maintained a positive attitude towards cryptocurrencies in recent years, leading to the growth of blockchain-based firms and an increase in the adoption of digital assets. According to the Federal Revenue Service, there are approximately 3.2 million crypto users in Brazil, with over 89,000 businesses utilizing crypto assets. The country also ranks high in terms of crypto awareness statistics worldwide.
Mercado Bitcoin, one of the largest virtual asset exchanges in South America, is based in Brazil. The country has also granted licenses to other crypto firms such as Crypto.com and Coinbase. Coinbase recently listed Brazil among foreign jurisdictions that it considers attractive for investment due to its friendly and certain regulations.
Despite these positive developments, there have been concerns among policy watchers regarding the recent moves to increase taxes on cryptocurrencies held overseas. Some view this as a negative aspect for the country’s growth, as taxes on virtual assets have also been introduced in the finance laws of other countries such as Nigeria.
Häufig gestellte Fragen
Welche Maßnahme ergreift Brasilien in Bezug auf Kryptowährungen?
Brasilien erwägt die Aufnahme von Kryptowährungen in die Liste der geschützten Assets, die im Namen der Gläubiger geschützt sind.
Welche Änderungen sollen vorgenommen werden?
Ein geplantes Gesetzesänderungsvorhaben sieht vor, das Zivilprozessrecht zu ändern. Insbesondere geht es um die Durchsetzung von Schulden und die Rechte beider Parteien.
Wie viele Kryptowährungsnutzer gibt es in Brasilien?
Laut der brasilianischen Bundessteuerbehörde gibt es in Brasilien etwa 3,2 Millionen Kryptowährungsnutzer.
Welche Krypto-Börsen sind in Brasilien ansässig?
In Brasilien befindet sich unter anderem die Krypto-Börse Mercado Bitcoin, eine der größten virtuellen Vermögenswertbörsen in Südamerika. Darüber hinaus haben auch andere Krypto-Firmen wie Crypto.com und Coinbase Lizenzen in Brasilien erhalten.
