Senator Jorge Kajuru (PSB-GO) took a bold step in Congress by presenting a new bill aimed at reformulating the Legal Framework for Cryptocurrencies (Law No. 14,478/2022). The objective? To combat market manipulation crimes involving digital assets with more rigor — a sector that is growing rapidly but still operates in various gray areas of legislation.

According to the parliamentarian, the proposal aims to cover a serious gap: since crypto assets are not classified as securities, they escape direct oversight from the Securities and Exchange Commission (CVM) and the legal protections applied to traditional assets like stocks.

"Today, these assets move billions of reais without the same level of legal security. This opens the door to sophisticated frauds and leaves the investor unprotected," justified Kajuru.

The project introduces articles 13-A to 13-D into the current legislation, creating harsh penalties for behaviors such as:

Intentional price manipulation

Spreading fake news with the intention of profiting in the market

Misuse of insider information (insider trading)

Additionally, companies and platforms offering services with cryptocurrencies will be required to adopt tools to identify and report suspicious transactions — a measure that could place more responsibility on exchanges and fintechs in the sector.

If approved, those caught manipulating the market could face up to eight years in prison, along with fines of up to three times the amount of illicitly obtained profits. In cases of misuse of confidential information, the penalty could reach five years of imprisonment.

"We cannot allow the advancement of the digital universe to occur outside the law. Criminalizing these practices is essential to ensure a more reliable market and protect both the ordinary investor and the health of the Brazilian financial system," emphasized the senator.

The proposal has already been formally presented in the Senate Plenary and awaits the next steps to begin its processing.