Brazil Proposes Permanent Blockchain Regulatory Framework, Filed June 8 with Up to 20% Fine for Violations

According to Livecoins, on June 8, Brazilian Federal Deputy Lincoln Portela submitted Bill 2901, proposing the establishment of a National Financial Technology and Digital Finance Platform Framework. The legislation introduces a permanent financial sandbox system under Central Bank oversight to provide continuous testing environments for blockchain technology and crypto asset tokenization, with differentiated, low-threshold compliance standards for small and medium-sized fintech startups. The bill allows infrastructure and data sharing among firms to combat crypto asset money laundering, and incorporates decentralized digital identity and biometric technology for large transaction security. Companies in violation face penalties up to 20% of annual profit and revenue. The bill will be submitted to a House committee for review in coming weeks.
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