• The recently approved Brazilian cryptocurrency law will likely be reviewed and revised by the newly inaugurated government of Luis Inacio „Lula“ Da Silva.
• According to statements made by the former rapporteur of the law, Expedito Netto, the new government will likely review the law to include some issues that were left behind for its approval.
• The law does bring changes that, according to analysts, will be able to help customers feel safer and more secure when dealing with virtual assets in Brazil.

The recently approved Brazilian cryptocurrency law is set to be reviewed and revised by the newly inaugurated government of Luis Inacio „Lula“ Da Silva. This news was relayed by the former rapporteur of the law, Expedito Netto, who affirmed that the new government will likely review the law to include some issues that were left behind for its approval. This news comes at an opportune time, as the Brazilian cryptocurrency sector had been anxiously awaiting the arrival of new regulations that would ensure its legal status in the country.

The new law, which was approved by Congress in December 2020, is expected to bring a number of changes that will benefit the Brazilian crypto markets. According to statements made by Netto, the law will include measures to ensure customer safety and security when dealing with virtual assets in Brazil. This includes provisions that will force cryptocurrency exchanges to segregate user funds from their own funds, as well as other measures such as tax discounts for green mining operations.

The new law is also expected to bring a number of benefits to the Brazilian economy, as it will create a legal framework for the development and implementation of blockchain technology. In addition, the law will also help to bring more investment into the country, as well as create more job opportunities in the sector.

Overall, the new Brazilian cryptocurrency law is expected to be a major step forward in regulating the crypto markets in Brazil. It is hoped that the new government of Luis Inacio „Lula“ Da Silva will be able to review and revise the law to ensure that it is up to date and in line with international standards. This will help to ensure the safety and security of customers when dealing with virtual assets in Brazil, as well as help to promote the growth of the Brazilian crypto markets.