On December 14, lawyer Rodrigo Caldas de Carvalho Borges, from CBA Associados, a speaker at the webinar “Regulatory Framework for Crypto Assets in Brazil”, assessed that the market expects the Central Bank of Brazil (BC), a potential regulatory body for the cryptocurrency market, to support the so-called asset segregation for companies in the sector. The event, promoted by ABPI and OAB-SP (Brazilian Bar Association – São Paulo Section), was moderated by lawyer Paula Luciana de Menezes, a member of the Intellectual Property Commission of OAB-SP. “Asset segregation is essential to bring more security to cryptocurrency market operators,” stated Borges.
The reintroduction of asset segregation, a practice in which clients’ assets are kept in an environment separate from those of the service provider’s platform, is roughly a consensus in the market. Included by the Senate in Bill 4,401/2021, it was later withdrawn by the Chamber of Deputies, which considered it restrictive. Now, the expectation is that the Central Bank of Brazil (BC) will be the regulatory and supervisory body for these assets. Nevertheless, it will be unable to reintroduce the asset segregation device for companies in the sector if the Bill remains as is. “The expectation is that the current President of the Republic, in response to requests from the market, presents, still in his mandate, a Provisional Measure including the text of the Asset Segregation Law,” said Borges, a founding member of the Blockchain Foundation.
