Brazil’s government will look to tighten its policing of the nation’s crypto sector. It has created a “working group” composed of top lawyers and prosecutors who have been tasked with drafting proposals for legal reform.

In an official announcement, the Public Ministry’s policy-making National Council stated that it would be working on the project in conjunction with the Commission for the Defense of Administrative Probity – Brazil’s anti-corruption bureau.

The ministry stated that the working group would focus on the “regulation of operations involving cryptocurrencies.” The group will be charged with producing a comprehensive report on proposed legislation and “good [legal] practices” in the crypto sector. The report will be submitted in a year’s time.

(by Tim Alper)