Regulação de criptoativos: uma análise das propostas legislativas nacionais diante do ordenamento jurídico brasileiro e da visão de outros países

• Autor(a) principal: Gonçalves, Gabriel de Souza
• Data de Publicação: 2019
• Tipo de documento: Trabalho de conclusão de curso
• Idioma: por
• Título da fonte: Repositório Universitário da Ânima (RUNA)
• Texto Completo: https://repositorio.animaeducacao.com.br/handle/ANIMA/6070
• topic: Ordenamento jurídico; Ordem econômica; Direito comparado

This report results of a study about the cryptoassets' regulation, especially addressing the theme from Brazilian legal system point of view, along with some incursions in comparative law. This study explores the diverse nomenclature used to refer to the cryptoassets, as well elucidates some definitions linked to the theme, like blockchain, the technology behind its operation. One of the goals of the present work was, then, to understand how such digital assets could be inserted into the national legislative framework, seeking to understand their legal nature and thus establishing the best approach to their regulation. The following research methods were then adopted: regarding the approach, it was classified as qualitative; as for the level, the research was exploratory; the procedure adopted for data collection was bibliographic and documentary, since it is based on published materials, such as laws, bills, academic papers, alongside with national and foreign governmental pronouncements. This study concludes that the cryptoassets have different legal natures, according to the function for which they are intended to. In this sense, the following standard was adopted in the present work: payment tokens, asset tokens and utility tokens. Thus, it was concluded that the best way to regulate cryptoassets is to divide them by functionality, subjecting each category to its respective regulatory normative. Regarding Brazilian’s legislation itself, three bills were analyzed. Bill n. 2.303/2015, which focuses on the means of payment functionality and proposes that these digital assets be supervised by Central Bank of Brazil. Bill n. 2.060/2019, which focuses on defining and classifying the cryptoassets. And Bill n. 3.825/2019, which establishes rules to be followed by the crypto exchanges, as well establishes Central Bank of Brazil’s authority to supervise such institutions, in addition to establishing the competence of the Securities Commission to oversee cryptoassets public offerings, when these assets have security features. Finally, from comments on the regulatory approach used by countries that have restricted the use of cryptoassets (China, Ecuador and Bolivia) and by nations more permissive to their use (Japan, Switzerland and the United States), it can be concluded that Brazil’s approach is aligned with the measures taken by the second group.