Brazil's government is preparing to cooperate more closely with the central bank on regulatory issues like cryptocurrencies and meal vouchers next year when ...
BRASILIA - Brazil's government is preparing to cooperate more closely with the central bank on regulatory issues like cryptocurrencies and meal vouchers next year when the bank gets new leadership, following occasional differences over policy on such matters.
Two of the ministry sources said collaboration had suffered as the central bank became more withdrawn from policy discussions since gaining formal autonomy under a 2021 law. The central bank said earlier this year it expected to finalize its proposed crypto regulations by the end of the year. The Finance Ministry sees the central bank as the natural regulator for the payment system. But the bank has resisted taking on the responsibility, citing a lack of staff and resources to regulate a market that serves 22 million workers while posing no systemic risk, according to sources.
The bank has argued that it needs real-time control over information regarding debt issuance and holders to monitor and prevent money laundering, added the source.
Luiz Inacio Lula Da Silva Central Bank Ministry Source Roberto Campos Neto
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