accountability!
In the ever so diplomatic world of crypto, Binance has teamed up with the Central Bank (yes, they’re friends, for now) to try and come up with a solution that doesn’t involve totalitarian tactics. Their idea? A reporting system that could monitor transactions without putting a stranglehold on self-custody. Genius, right? They’d rather track movements than put up walls. Imagine that!
Thiago Sarandy, the legal guru over at Binance (who, by the way, sounds like he knows his blockchain from his Bitcoin), explained that using blockchain’s built-in transparency could help the government track transactions—without turning the country into a surveillance state. He’s basically saying, “Hey, let’s all just work together and avoid the drama.” A novel approach, indeed. 🧐
And yes, Cesar Carvalho, a legal mind from Baptista Luz Advogados, has his two cents to throw in. He’s been having some cozy chats with the Central Bank, warning them about the potential legal consequences of this “ban hammer” move. He’s not mincing words: “It’s disproportionate,” he says, as if the government’s trying to launch a war on privacy. Oh, and he mentions the Constitution—just in case anyone forgot about those pesky little things called rights.
“A total ban like this is disproportionate and very excessive. Self-custody and the principles behind it incorporate constitutional rights, such as the right to property. They are constitutive principles of our democracy.”
But wait, there’s more. Guilherme Sacamone from OKEx (the guy who’s clearly seen enough of this political theater) has an even juicier take. He’s concerned that this regulation might just push exchanges out of Brazil entirely. “You’re only hurting those who are actually following the rules,” he quips, because apparently, Brazil’s government is so used to driving businesses away they’re practically experts at it.
On the flip side, Gabriel Galipolo, the president of the Central Bank, has linked crypto with illegal activities, apparently believing that the world of decentralized finance is just a cover for tax evasion and money laundering. Because, of course, nothing screams “illicit” like someone taking control of their own digital wallet. 🙄
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2025-05-18 13:58