Roberto Campos Neto, president of the Central Bank of Brazil reportedly acknowledges the demand for a clarified regulatory framework for crypto, with the increasing development of the nation in the market.
Specifically, during his speech at an online event hosted by the Council of the Americas, the Central Bank of Brazil President reportedly expressed his stance regarding transparent payments networks, as well as Brazil’s CBDC initiative and crypto legislation.
Campos Neto has reportedly been gathering a reputation of a faithful advocate of the crypto sphere since his takeover of the role two years ago.
His progressive policy-making has reportedly offered significant encouragement towards investors and organizations, which possess ambitions to bring modernization to the Brazilian financial infrastructure.
At the event, Campos Neto reportedly talked about a variety of ongoing debates with Brazil’s Securities and Exchange Commission, in terms of choosing the proper measure for welcoming cryptocurrencies into the regulatory landscape.
“The financial market is changing so much that it’s all becoming data. We need to reshape the world of regulation.”
“Brazilian regulators are recognizing the maturation of the crypto market and understanding that it is important to offer regulated products to investors looking forward to exploring these new asset classes.” Fernando Carvalho – Head of QR Capital – reportedly remarked.
Brazil has reportedly been the center of attention to an extent throughout the last years, regarding its developments of a government-backed digital payments project, dubbed Pix, which managed to reel in more than 96 million users, a 45% representation of the nation.