Mauricio Moura, a current director of the Central Bank of
Brazil, stated that anonymity won’t be a choice when making
cryptocurrency transactions in the country. The representative stated
that, sooner or later, all users would have their transactions
identified by the government. These comments came at an event promoted
by the Institute of Professionals for the Prevention of Money Laundering
and Terrorism Financing.
Central Bank of Brazil: ‘Anonymity Won’t Be an Option’
Mauricio Moura, director of citizenship relations and supervision of conduct for the Central Bank of Brazil, stated
that the coming regulation could ban anonymity in cryptocurrency
transactions made in the country. Moura stated that the central bank is
currently devising ways to achieve this objective jointly with the
Brazilian Securities Commission. He declared:
I can’t say much. But the names of those involved in cryptocurrency
operations will be known end-to-end. I can say that anonymity will not
be an option.
Currently, all exchanges and companies in Brazil must report their
operations and the operations of their customers to the regulator. But
some of these companies still aren’t complying with this mandate. Moura
didn’t detail how the bank would accomplish the planned objective.
Crypto Regulation Coming
Brazil is in the process of issuing a complete regulatory system for
cryptocurrency assets, and the Central Bank of Brazil is included in the
institutions that have a say in this process. In June, a law project
that proposes a fixed period for establishing cryptocurrency
regulations was introduced in Congress. While it is still awaiting
approval, it would give the government 180 days to propose and approve a
system to regulate and tax cryptocurrencies like normal bank
transactions.
There is another commission
that is currently focusing directly on the regulation of
cryptocurrencies in the Chamber of Deputies. However, even with all
these institutions trying to regulate crypto, the market keeps growing,
and more companies are integrating crypto-related solutions into their
operations.
This is the case of Visa, which recently announced
it will integrate cryptocurrency solutions with traditional banking.
But more importantly, the vice president of new business in Brazil has
stated the company will be testing direct bitcoin payments this year.
This suggests regulation is not scaring big players still interested in
joining the cryptocurrency market or embedding crypto into existing
platforms.
source link : https://news.bitcoin.com/central-bank-of-brazil-director-states-government-will-know-everything-you-have-in-bitcoin/
