Brazil’s President Jair Bolsonaro has signed a new bill to regulate the use of crypto assets such as Bitcoin (BTC) and Ethereum (ETH) in the country, according to a report by the federal government’s official journal (DOU).

Cryptocurrency regulation in Brazil is poised to become law at midnight local time. The bill, which was approved by the Chamber of Deputies two weeks ago, aims to regulate providers of virtual assets. If outgoing President Jair Bolsonaro doesn’t veto it by the end of the day, it will automatically become law. ( The Block)

Cryptocurrency regulation in Brazil is poised to become law at midnight local time.

Roberto Campos Neto, president of the Central Bank of Brazil, has stated that the digital real project, the Brazilian central bank digital currency (CBDC) could be launched in 2024. Campos Neto also remarked on the benefits the digital currency system might bring as it is integrated with traditional finance structures and decentralized finance (defi) institutions.

Crypto.com has obtained a Payment Institution License from the Central Bank of Brazil, the crypto exchange announced on Thursday.

The Central Bank of Brazil plans to introduce a central bank digital currency (CBDC) by 2024, the bank's President Roberto Campos Neto <a href="https://www.youtube.com/watch?v=GcS1-Zn5n3E" target="_blank">said at a conference </a>hosted by Brazilian news site Poder360 on Tuesday.

Brazil National Fan Token (<a href="https://twitter.com/hashtag/BFT?src=hash&amp;ref_src=twsrc%5Etfw">#BFT</a>) is down 60.5% today after its loss against Croatia at the <a href="https://twitter.com/hashtag/FIFAWorldCup?src=hash&amp;ref_src=twsrc%5Etfw">#FIFAWorldCup</a>

As the global crypto community is still licking its wounds from the FTX collapse, a liquidity crisis continues to spread around centralized exchanges and <a href="https://cointelegraph.com/defi-101/defi-a-comprehensive-guide-to-decentralized-finance">decentralized finance (DeFi)</a> alike.&nbsp;

Brazilian investors are showing a strong preference for cryptocurrency products even as the global market undergoes a phase of high turbulence.

<a target="_blank" href="https://cryptonews.com/tags/brazil">Brazil</a>’s government will look to tighten its policing of the nation’s crypto sector. It has created a “working group” composed of top lawyers and prosecutors who have been tasked with drafting proposals for legal reform.