The Legal Framework on Foreign Exchange Transactions in Brazil: An Analysis of the Use of Cryptocurrencies to Exchange National Currencies

November 2022Finance Property

Abstract

That cryptocurrencies have been defying central banks’ authority globally is no news. Central banks around the world have been lagging behind in a Sisyphus task of regulating situations that evolve as cryptocurrencies market develops. The scenario in Brazil is no different. While a new law (Law 14,286/2021) governing the foreign exchange market was recently enacted, empowering the Central Bank of Brazil to regulate foreign exchange trades, new forms of buying and selling foreign currency with the use of cryptocurrencies have been developing.

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The Legal Framework on Foreign Exchange Transactions in Brazil: An Analysis of the Use of Cryptocurrencies to Exchange National Currencies

Abstract

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