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Brazilian stock exchanges merged to regulate the cryptocurrency market

Organizations will be engaged in the regulation of the cryptocurrency market.

17.Apr.18 9:41 PM
By Jeff Bannister


Brazilian stock exchanges merged to regulate the cryptocurrency market
Large Brazilian cryptocurrency platforms have signed an agreement to create a cryptocurrency Association that will protect the interests of users of digital coins. A created organization called the Brazilian Association crypto-economy (ABCripto) Members of the Association were Mercado Bitcoin, Forxbit and Bitcointrade. The same agreement was concluded between several representatives of the industry. This organization was named Associação Brasileira de Criptomoedas e Blockchain (ABCB), it appeared in October 2017.

ABCripto's main priority is to regulate cryptocurrency assets in The country. According to the Vice-President of the organization Natalia Garcia, the organization is looking for companies that can develop mechanisms for regulating digital assets.

The second organization has not yet decided on its benchmarks. However, the President of the organization Fernando Furlan noted that the organization will protect the Brazilian cryptocurrency market, confidentiality and encourage innovative solutions.

Earlier, the Brazilian financial Regulator banned investment funds from buying cryptocurrency, citing the fact that digital coins are not a financial asset.

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