Episode #125: Brazil Inches Towards Crypto Regulatory Clarity with Nicky Dyskant

Attorney and Fireblocks advisor joins to discuss draft rules put forth by the Central Bank

Aaron Stanley

Nov 13, 2024

Transcript

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Olá pessoal!

You’ve probably seen the news by now that the Central Bank of Brazil released its proposed licensing structure and regulations for digital asset companies operating in the country.

Attorney Nicky Dyskant joins the show to discuss these developments, as well as new legislation on asset segregation and stablecoins that is now working its way through the Brazilian Congress. Additionally, the CVM (Brazilian SEC) and Receita Federal (tax authority) are also in the process of issuing their own public consultations related to crypto rules.

This conversation with Nicky is a great primer on the incoming Brazilian regulatory framework — which is expected to be finalized and implemented by mid-2025.

The proposed framework appears to strike a balance between embracing international standards while maintaining an innovative posture. While some smaller market participants have expressed concerns about compliance costs and burdens, the risk-based approach should hopefully allow for proportional implementation based on operational scale and complexity.

👀 BCR will have more expert interviews focusing on the regulatory space in the coming days so stay tuned.

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You can connect with Nicky on Linkedin

Have a great day everyone!

-AWS

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