The Parliamentary Commission of Inquiry (CPI) on the Manipulation of Games and Sports Betting has requested the summoning of a director from the Central Bank of Brazil (BCB) to explain how the sending of cryptocurrencies to betting platforms will be monitored starting January 2025. Senator Romário also reminded that in the regulation coming into effect at the beginning of the year, there will be criteria for sending values to the platforms, with deposits using credit cards and cryptocurrencies of any kind being prohibited.
Senator Romário requested the summoning of a BCB director to explain the rules prohibiting the transfer of funds to sports betting platforms starting January 2025.
According to the Senate Agency, Senator Romário (PL-RJ), the rapporteur of the commission, invited the Director of Supervision of the Central Bank, Ailton Santos, to testify before the committee.
The commission intends to hear from the Director of Supervision of the BC about the agency's plans to monitor this economic activity and "prevent the national financial system from being used for the practice of crimes related to sports betting," said Romário.
It is worth remembering that the Central Bank of Brazil is the body defined to regulate the cryptocurrency market, since Law No. 14.478/2022.
The CPI on Sports Betting and Manipulation of Results wants to understand how the BCB will curb the sending of cryptocurrencies to bets in January 2025.
As explained by the Senate Agency in recent days, Senator Romário cites a technical note from the Central Bank that seeks to measure the size of the online gambling and sports betting market in Brazil.
In the note, prepared at the request of Senator Omar Aziz (PSD-AM), the BC estimates that the expenditure was R$ 20.8 billion just in the month of August 2024.
There is an estimate of more than R$ 240 billion per year, which makes the activity exceed the expenses of all electronic commerce in Brazil.
In addition to estimating the values, the BC's technical note points out the difficulties in identifying these transactions, observes Romário. The estimates account for 24 million Brazilians involved with electronic gambling in Brazil.
In Request 115/2024, Romário also reminded that the regulation of bets conducted by the Ministry of Finance comes into effect in January 2025. Thus, there will be criteria for sending values to the platforms, with deposits using credit cards and cryptocurrencies of any kind being prohibited.
“These same difficulties will be faced when, on January 1, 2025, the regulation established by the Ministry of Finance comes into effect. Among other points, the regulation establishes criteria for payment transactions, such as the prohibition of the use of credit cards, virtual assets, or other types of crypto-assets,” stated Romário.
Source: GMB
