Topic: Brazil in the process of regulation. Good or bad? - page 3. (Read 567 times)

I did not expect the main idea of the article, the limitations of my language that haven't been able to understand the article. It would be great if the article is in English.

But for a regulation where the government receives cryptocurrency, it will be an interesting subject and good news for the cryptocurrency. There are still many countries that refuse to use cryptocurrency. But by accepting Brazil against cryptocurrency will be a new trend for countries that previously banned and re-regulated to accept cryptocurrency.

Of course its good, we have been waiting for what could be the result of discussions about regulations which when decided could affect the market.  The G20 already have decided about what bitcoin and other cryptocurrencies are and if regulations are going to be a wait for holders and traders and ICO regulations are ways to make these investments legal so be it. If Brazil can start all these I guess the rest will follow.

This year, most states will be forced to consider the issue of circulation of crypto currency in the country, while determining its status and, if desired, setting a tax on profits from activities with it. The Crypto-currency can not exist by itself outside the territory of the states, which means sooner or later it must undergo regulation so that the state takes it under the protection of its state bodies, including judicial ones. Therefore, what will happen in Brazil is a normal and usual process of developing and developing the crypto currency.

Maybe it is a good thing because if the government regulates it. It will make it legal. And thus more people will buy it and more people will gain from it.

I agree! But it doesnt always have to be dependent to them. They could indirectly regulate bitcoin by regulating exchanges, business and miners that operate within their jurisdiction. They dont necessarilly need to touch the software. For me those regulations are fair because they obviously need to tax businesses and they obviously need to stop money launderers. And those are impossible to do without the proper regulations.

There are some good sides when crypto being regulated, if the government give a clear regulation then people can invest in crypto with ease and it will increase the crypto transaction volume, which will be good for crypto, for now we got no choice but to accept the regulation because it is better to be regulated rather than being banned

The circulation of bitcoin and cryptocurrency in Brazil is nearly be recognized by the brazilian government, but there are provision in the legality of bitcoin and cryptocurrency , so for bitcoin to be continued the implementation of transaction and payments, it should comply the needed requirement the government wants.It is good for the cryptocurrency and bitcoin.

Whether we like it or not, I agree with crypto industry being regulated because there are things that we cannot do for our protection because it is unregulated. We cannot just hold someone accountable in case he does something like run away with our money by participating in ICOs because they are anonymous. We may know their names through their whitepaper or website but how can we know if those people are the real people behind.

If it is regulated then the team behind those ICOs would be known since they are required to register and show their supporting documents. We may not like it because the government is in control again but what can we do? It would be better being regulated than being totally banned which would hinder the adoption of cryptocurrency.

I mean all kinda regulation of bitcoin always good for me, but there is just one thing we need to know which is the rules. To make kinda regulation of course there will be so many rules,  does it good or even bad for bitcoiners. I think it's getting more the country who was legalize bitcoin as soon as possible it will be great future for bitcoin.

Dude its Brazil....
I am surprised they are regulating cryptos while they have much important things to do like protecting their country's people from mob-rule,drug-trafficking and illegal weapon smuggling etc. Anyhow doesn't matter,regulation would help Brazil a little atleast.

I agree with you while most of the politicians are playing everything by the money. I hope he is just doing this for the benefit of his people and not by his own benefit and i do agree that regulations are good in every aspect as long as it is highly debated for a vote before anyone could agree to their terms.

I think that it is good. The governments already understand that the crypto currencies is the future, and they cannot restrict this new economics too long time. In the most of cases, the regulation means that the crypto currencies are recognized by the government as commodities or something like that. If regulation is not too severe and taxes are not too high, it can be profitable for an ordinary users and government. The wise politics will satisfy both of these parties.

Regulating can be good if it focused on using bitcoin without scams and ponzi scemes, and not in using or trading bitcoin itself, it all depends on how will they regulate it and not trying to monopolize it. Since bitcoin is  decentralized and anonymous in nature, users must remain anonymous, unless users deals with 3rd party exchanges.

And bad regulation is bad

If the outcome of the regulation is fine, meaning that cryptocurrencies are accepted and possibly taxed, it's fine, acceptable. If they start issuing paid licenses to businesses or even worse, limit the access to cryptocurrencies or even ban them, it's going to be bad regulation.
It would be great if they could stay away and let the market regulate itself.

Good, regulation is always good. It improves the security and encourages institutional investors.

Now all states will be forced to consider the issue of legalization of the crypto currency. At the same time, they must determine its status, that is, what they consider to be a crypto currency, determine the conditions for its circulation on the territory of the country, and also solve the issue of its taxation. This is an inevitable stage in the development of the crypto currency. Therefore, if in Brazil are going to consider these issues, then in general it is very good. Simply, the solution to the crypto currency, the conditions for its circulation and legalization, as well as taxation may be different, loyal to the crypto currency, or vice versa, rigid.

The interview that I mentioned is with the president of the Brazilian Association of Cryptomoedas and Blockchain, who is at the forefront of the crypto discourse with the CVM.

Criptomoedas Fácil: How did the ABCB idea come about and how can the entity effectively help crypto market?

Fernando Furlan: The CVM has internal committees that have been discussing the cryptoactive for some time and have been defining some things gradually. ABCB wants to contribute with the authorities, regulators and parliamentarians, with accumulated information and experience, as well as a reference of safety and credibility in this market. The idea behind the creation of ABCB came from a large group of small entrepreneurs who believe that this market should provide frequent entry of new and innovative competitors. This thought was translated by a small group that took the initiative of the ABCB and that now grows with new members. We will try to give the example of informing and, possibly, to influence parliamentarians in a frank and transparent way, seeking to translate the expectations of the crypto-coins and blockchain sector.

One of the objectives of the Association is to serve as a reference in good information to the public and to the authorities. Our activities are focused on informing and contributing suggestions. Cryptomoedas, and their different uses, are one of the infinite applications of technologies derived from Blockchain. We will seek to clarify exactly in this respect and not to discriminate between members, whatever their field of action.

About the CVM
The Brazilian Securities and Exchange Commission (CVM) was created on December 7, 1976 by Law 6,385 / 76, with the purpose of overseeing, regulating, disciplining and developing the securities market in Brazil.

The CVM is a self-regulatory entity under a special regime, linked to the Ministry of Finance, with legal personality and equity, with independent administrative authority, lack of hierarchical subordination, fixed mandate and stability of its directors, and financial and budgetary autonomy.

The issue of regulation and banning of cryptocurrency by government of any country is no longer a bad news. This is only making cryptocurrency stronger and popular, on the long run it will attract more investors.

Please include a simple link.
I translated this dialogue, but there is no reference to the central bank or any legal authority.
Google translates results.

There is no evidence that Brazil will regulate bitcoin "I have tried to research all the press sites."
I believe that every regulation is good for the whole cryptocurrencies and bitcoin in particular. because it is a recognition of the acceptance of Bitcoin as a payment way and will facilitate its use.

Regulations always harm the regular economy. It shouldn't come as a surprise that each country having every part of their industry and economy heavily regulated, also struggles with high percentages of poverty, high percentages of job loss, and tax evasion. If we look at how nothing has even slightly changed in the last years, but actually became more of a problem, then it's safe to say that they don't bother to change anything. People quite often think that paying taxes helps the country, but if you only see it go backwards, then how much of a help is it actually? It's not doing anything for the average person -- the only thing that's happening is a larger growing gap between poor and rich.