Marco legal brasileiro das criptomoedas: uma análise comparada à legislação europeia MiCA

Abstract

Through money it is possible to record the evolution of a society, its economic, political, cultural and technological contours over time. The new form of monetary conception emerged in 2009 and brought new features never seen before, allowing the decentralization of the State as the issuer of currencies and the cross-border possibility of currency via the internet, creating a new financial ecosystem, characterized by innovation and agility. However, this growth has led to the need for comprehensive global regulations that prioritize consumer protection, financial stability, the creation of rules for cryptocurrency companies, but above all, the delimitation of the powers of the so-called Stablecoins that have emerged on the market as cryptocurrencies without volatility, The best known are USCD and USDT. Their acceptance and circulation are higher than traditional cryptocurrencies such as Bitcoin and Ethereum, and they are widely used in countries where the local economy is facing devaluation of the fiat currency. Faced with this scenario and after years of study, public consultations and understanding with the market, the European Union presented its regulations to the world, called Markets in Crypto-Assets (MiCA), with the aim of regulating this new reality, bringing legal certainty, but above all standardizing concepts and guidelines on the subject of cryptocurrencies. Brazil, for its part, issued the first regulations on the subject in 2017, through the Federal Revenue Service, and since then has been creating regulations to adapt to this new reality. But it wasn't until 2022 that the first legislation on the subject was created, establishing the Central Bank as the competent authority to issue operating authorizations to virtual asset service providers. Thus, the aim of this dissertation is to establish a parallel line between the laws, with a view to a comparative study. The methodology adopted was deductive and this study used a qualitative approach.