According to the president of the Brazil Central Bank (BC), Roberto Campos Neto, the Securities Commission (CVM), and the institution are already discussing the regulation of the cryptoasset market. The statement was made during a webinar promoted by the Council of the Americas on August 18.
“For us, it’s more than just the regulation of cryptocurrencies. It’s about regulating the future. It’s about regulating data. Finance will be about data”, said Campos Neto, highlighting the role of digital assets as a form of investment and wealth preservation, especially in emerging countries, in which fiat currencies end up suffering great impact from inflation.
According to the president of the Central Bank, the entity “will do whatever is necessary to reach the inflation target”, acknowledging the rise in inflation in recent months.
The Central Bank has been actively participating in crypto-related discussions. Recently, it hosted a webinar to discuss Digital Real. During the event, the Central Bank discussed implementing the Brazilian CBDC, the digital currencies issued by monetary authorities.