Criptomoedas e a Lei nº 14.478/2022: Avanços, Limites e as Perspectivas da Regulação no Brasil

Abstract

This scientific article analyzes Law No. 14,478/2022, the “Legal Framework for Cryptocurrencies” in Brazil. Adopting a legal-dogmatic approach, the study maps the regulatory advances, such as the creation of an initial normative framework, the criminalization of certain conducts, and the formalization of consumer protection. Conversely, it explores the law’s limits and gaps, emphasizing the omission of asset segregation and the challenges posed by the decentralized nature of Decentralized Finance (DeFi) and tax uncertainties. A comparative analysis with the European Union’s MiCA Regulation contextualizes Brazil’s choice for a principles-based model. The study concludes that the law’s effectiveness will depend on infra-legal regulation and the legal system’s ability to adapt to the market’s dynamism.