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Cryptocurrency Law Approved in Brazil — Green Mining Tax Exemptions and Asset Segregation Issues Left Out

December 1, 2022


The cryptocurrency law project identified with the number 4.041/2021, was approved by the Chamber of Deputies in its session on Nov. 29. The law project, whose discussion and approval were postponed several times due to the general elections realized last month, will now have to be ratified by president Jair Bolsonaro, who must sanction it before declaring it law.

Deputies voted to shed most of the changes that the Senate had proposed, allowing the law to be approved in a more general form, and providing the opportunity for more specific rules to be formulated later. Deputy Expeditto Neto, the rapporteur of the bill, remarked on the importance that this law has for the country. He stated: