Companies in the sector will have 180 days to adapt to the new rules.December 22, 2022 by Rodrigo TolottiThis article is adapted from CoinDesk Brasil, a partnership between CoinDesk and InfoMoney, one of Brazil’s leading financial news publications. Follow CoinDesk Brasil on Twitter.Brazil President Jair Bolsonaro on Thursday approved a crypto regulation bill recently passed by that country’s Chamber of Deputies and the Senate.The new law establishes a crime of fraud involving virtual assets, with a penalty of between four and six years in jail plus a fine. It also creates a “virtual service provider” license, which is to be requested by digital asset companies, including exchanges and trading intermediaries.This article was translated by Andrés Engler and edited by CoinDesk. The original Portuguese article can be found here.
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