A new cryptocurrency bill was approved by the Chamber of Deputies of the Brazilian Congress last week, and is now awaiting review by the Senate for approval. The project, if approved, would introduce a central body to regulate all cryptocurrency brokerage activity — ostensibly the Central Bank of Brazil — and establish new penalties for crypto-related crimes. Chamber of Deputies Passes New Crypto Bill in Brazil The Chamber of Deputies of the Congress of Brazil has approved new proposed legislation that seeks to bring clarity to cryptocurrency regulation in the country. The project, identified as Bill 2303/15 and proposed by Deputy Aureo Ribeiro, establishes definitions for exchanges and virtual currencies. It also requires a central body to oversee all cryptocurrency-based operations, which will be appointed by the executive branch of the government. The bill will now be passed to the Senate, which will ultimately decide if it is passed into law. The regulation doesn’t mention cr...