Catenaa, Sunday, March 23, 2025-The Brazilian Senate will conduct a public hearing on cryptocurrency regulation following a renewed legislative push to tighten oversight on virtual asset service providers (VASPs).
The Senate’s Economic Affairs Committee approved the hearing after Senator Rogério Carvalho, leader of the ruling Partido dos Trabalhadores (PT), called for broader consultation. The move follows a private bill from Senator Soraya Thronicke of the Podemos Party, which aims to regulate crypto exchanges, token issuance, and settlements.
Carvalho emphasized the need for a “technical, in-depth analysis” of the proposal, citing the “accelerated growth” of Brazil’s crypto market. Lawmakers intend to consult financial regulators, industry groups, and private sector representatives to ensure legal clarity and investor protection.
The hearing’s date remains undetermined, but expected participants include the Central Bank of Brazil, the Securities and Exchange Commission, the Brazilian Association of Cryptoeconomics, and the Financial and Capital Markets Association.
Thronicke, a strong advocate for crypto regulation, has pushed multiple legislative efforts since 2020. Her latest bill mandates operational licenses for all crypto exchanges serving Brazilian users, including foreign platforms. It also proposes stricter rules to prevent the mixing of customer and company funds, aiming to enhance transparency and security.
Crypto adoption continues to surge in Brazil, with a Bitso study reporting a 6% increase in crypto exchange users.
