Many countries have started to make regulations and draft laws regarding the crypto ecosystem. However, governments have started to take steps regarding the crypto market. This time, a decision came from the Brazilian congress regarding the crypto bill.
Brazilian Congress Postpones Crypto Bill
The Brazilian congress announced that it has postponed the crypto bill voting until after the presidential election, which is expected to be held in October.
Lawmakers in Brazil were due to consider the crypto bill before the congressional recess that begins next week, but budget guidelines law and a proposed constitutional reform for the medical sector dominate the legislative agenda.
In April, the Senate passed the bill that regulates crypto transactions and creates the label “virtual service providers” for crypto companies.
The House of Representatives failed to reach consensus on the text, as Congressman Expedito Netto, who was tasked with presenting the bill in the lower house, removed two items from the Senate’s original bill. The first clause was removed, stating that exchanges must keep their assets separate from those of customers.
Also, last June, Panama President Laurentino Cortizo vetoed the crypto bill over concerns that it would not comply with certain regulations.
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