According to Foresight News, The Block reported that Brazil's cryptocurrency regulatory bill is about to take effect. The bill was approved by the House of Representatives on November 30 and aims to regulate virtual asset providers. If Brazilian President Bolsonaro does not veto the bill before the end of the 21st, it will automatically become law. The bill allows public institutions to hold cryptocurrencies, and the Central Bank of Brazil will become the regulator of the crypto industry.