Fernando Haddad, Brazil’s Minister of Finance, announced that the government is preparing a regulatory overhaul aimed at combating the use of cryptocurrency to finance organized crime.
The planned measures include implementing tougher rules on cryptocurrency usage to enhance transparency and accountability within the sector. Additionally, the overhaul will involve a revamp of the Comissão de Valores Mobiliários (CVM), Brazil’s equivalent of the U.S. Securities and Exchange Commission (SEC), to strengthen regulatory oversight.
This initiative reflects Brazil’s commitment to tightening crypto controls as part of its broader strategy to tackle organized crime financing.
Stay tuned for more updates on this developing story.
https://bitcoinethereumnews.com/crypto/brazil-to-tighten-crypto-rules-attacking-the-financial-arm-of-organized-crime/