Brazil issues cryptocurrency regulatory decree, designating the central bank as the regulatory authority for cryptocurrencies.

According to BlockBeats news on June 14th, the Brazilian cryptocurrency regulatory law (Law No. 11,563) was published today in the official gazette of the Brazilian Union, as reported by Brazilian cryptocurrency media Portal Do Bitcoin. The law was signed by Brazilian President Luis Inacio Lula da Silva, Brazilian Minister of Economy Fernando Haddad, and others. The law stipulates that the central bank will regulate cryptocurrency services and has the power to issue market operation qualifications to any institution and supervise the operation of the department. In addition, the Securities and Exchange Commission will be responsible for supervision in the case of defining virtual assets as securities. The law will come into effect on June 20th.