Financial Market: main news from 11 to 15/05

Last Tuesday (12), the Public Security and Organized Crime Committee of the Chamber of Deputies held a public hearing to discuss the use of fintechs in the commission of money laundering offenses and ways to combat such illicit activities. The meeting brought together representatives from the BCB, the Brazilian Federal Revenue Service, ABFintechs, Abracam, and the Association of Police Chiefs of Brazil. The BCB spokesperson warned of the sharp growth in authorized payment institutions (from 30 in 2020 to 255 currently) the use of “pool accounts” and “bus accounts” to conceal funds, and defended greater information sharing among public agencies. The Organized Crime Suppression Police Division (DRACO) police chief highlighted the growing sophistication of organized crime through the use of “fake fintechs,” which are able to move billions of reais in a short period of time. ABFintechs advocated for strengthening the use of AI in BCB and CVM supervision, while Abracam presented its AML/CFT Compliance Seal, noting that participating institutions showed progress in internal controls and improvements in anti-money laundering practices.

Brazilian Chamber of Deputies discusses combating money laundering through fintechs

Central Bank warns about the use of fintechs by organized crime

During the BCB’s 4th Annual Conference last Wednesday (13), Gabriel Galípolo stated that the global economy is experiencing its fourth supply shock in less than six years, in a scenario marked by geopolitical conflicts, disruptions to production chains, the pandemic, and extreme climate events. According to the BCB president, the sequence of shocks has called into question the credibility of monetary authorities, as traditional monetary policy tools were designed for a different type of economic environment. Galípolo emphasized that the BCB must distinguish temporary supply shocks from secondary effects that may spread more broadly through prices, especially in a context of unanchored expectations and a tight labor market. He also pointed to the mismatch between official inflation indicators and the public’s perception of the cost of living, reinforcing that the monetary authority will remain focused on controlling the inflationary process.

A series of global supply shocks is putting the credibility of monetary authorities to the test, says Galípolo

Galípolo warns of supply shocks and challenges to the credibility of central banks worldwide

Last Thursday (14), the Brazilian Association of Banks (ABBC) announced the development of a platform for the tokenization of banking assets, in partnership with Núclea. Still in its initial phase, the network will operate as shared infrastructure for the issuance, registration, and management of tokenized financial assets, with the Tokenized Bank Credit Note (CCBt), the digital version of the CCB, as its first product. At this stage, Núclea will register the asset in the traditional environment and create a corresponding token on its proprietary blockchain, Núclea Chain, enabling a connection between the two networks. According to ABBC, the initiative should initially facilitate the assignment of assets in interbank transactions among members, combining technological innovation with the existing infrastructure of the National Financial System. Núclea stated that the model preserves the traditional CCB flow, while incorporating automation, traceability, interoperability, and efficiency gains through distributed ledger technology.

ABBC creates network with Núclea to 'tokenize' CCB

Last Tuesday (12), the Senate Economic Affairs Committee (CAE) approved Bill No. 2,091/2023, which adds new criminal offenses related to the securities market to the Penal Code, including misleading conduct, accounting fraud, improper influence over audits, ideological falsehood, and disloyal management. Penalties range from one to six years of imprisonment and may be doubled or tripled depending on the scale of the losses and the number of victims. Convicted individuals are also barred from engaging in business activity or holding positions on boards of directors, fiscal councils, executive boards, or management bodies. Although drafted in 2023 in the wake of the Americanas accounting fraud scandal, the bill gained renewed momentum following the Banco Master scandal. The text will now be submitted for final review by the Constitution and Justice Committee (CCJ) and, if approved, will proceed directly to the Chamber of Deputies.

Senate Committee approves bill for new crimes in the capital market 

Senate committee approves bill that defines crimes in the capital markets

Congress debates bills that could impact banks and fintechs 

Last Thursday (14), during a pre-launch event for Blockchain Rio 2026 in São Paulo, ABcripto president Júlia Rosin argued that the cryptoasset market should be more clearly incorporated into the 2026 electoral debate, with a focus on regulation, legal certainty, and room for innovation. She announced that the association is preparing a manifesto with proposals for National Congress and the Presidency of the Republic on what it considers necessary for the next four years, seeking to place the sector at the center of public debate given its economic relevance. Rosin stated that Brazil is currently the fifth-largest cryptoasset market in the world and highlighted the sector’s contribution to job creation and tax revenues. ABcripto advocates for a supervisory model that ensures consumer protection without restricting the development of new business areas. Rosin also pointed to blockchain’s potential to enhance transparency in public administration, including in the registration of parliamentary amendments, and reiterated that the sector should be treated as a relevant issue in the electoral landscape.

ABcripto advocates including regulation and innovation in the sector on the 2026 election agenda