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Asset segregation may be reintroduced in the cryptocurrency market

The market hopes that the Central Bank (BC), a possible regulatory body for the cryptocurrency market, will support the so-called asset segregation for companies in the sector, evaluated, this Wednesday, the 14th, lawyer Rodrigo Caldas de Carvalho Borges, from CBA Associados , speaker at the webinar “Regulatory Framework for Crypto Assets in Brazil”. The event, promoted by ABPI (Brazilian Association of Intellectual Property) together with OAB-SP (Order of Lawyers of Brazil), was moderated by lawyer Paula Luciana de Menezes, member of the Intellectual Property Commission of OAB-SP. “Asset segregation is essential to bring more security to cryptocurrency market operators,” said Borges.

The reintroduction of asset segregation, a practice in which the client’s assets are kept in a separate environment on the service provider’s platform, is practically 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 Included by the Senate in Bill 4,401/2021, it was later withdrawn by the Chamber of Deputies, which considered it restrictive. The expectation, now, is that the Central Bank will be the regulatory and supervisory body for these assets, but it will not be able to reintroduce the asset segregation device for companies in the sector, if the Bill remains as it is. “What is expected is that the President of the Republic, in response to requests from the market itself, presents, still in his mandate, a Provisional Measure including in the text of the Law the patrimonial segregation”, said Borges, founding member of the Blockchain Foundation.