3Q 2022 Cross Tech THE MAGAZINE OF THE CROSS-BORDER PAYMENTS INDUSTRY |AROUND THE GLOBE |TO KEEP IN MIND no“Criptoativos”BrasilTheImportanceofanEffectiveTrainingProgram |CRYPTO NEWS Brazilian ProfessionalsTech A great opportunity for companies around the world SantosLauriney | Founder and COO Beeteller Group
COO, CrossTech
The digitalization process facilitates a more sustainable way of creating strategies to get companies out there, being easily visible and promoting a more familiar environment within this sector. This, being in itself, a solution that opens doors to allow bonding and connections, a key factor to thrive as a part of CrossTechit.has been promoting this ideal of getting closer for more than a decade, becoming a referent of a space where people and companies get to make long-lasting relationships that enhance each activity and keep shaping this field year after year.
Priscilla D'Oliveira Friedman Priscilla comes with an extensive background in operations management, strategy, process improvement, consulting and training. She started her career in American Express where she led a variety of teams in the call center industry (executive customer care, dispute resolution network and social media response team).
See you in November in Miami for our flagship event of the year CrossTech World 2022 Conference. Enjoy! EDITOR Hugo Cuevas-Mohr CO-EDITOR Priscilla D’Oliveira Friedman
Fostering a space where the financial revolutions start is satisfying but, most importantly, a must for us. Our commitment is to bring a new perspective to take the next big step, and we want to continue this talk for many years.
Brazil is the right example to understand the “How to” being ahead of the tendency and the proof that if it goes anywhere is only forward, not to mention that the financial changes implemented are giving excellent results, and the acceptance has been broad.
Out of all the lines building the cross-border payments ecosystem, cryptocurrency and digitalization are on top of the game this year; whether it is Banking, Fintech, Remittances, or any other area, this is the lead everywhere.
©
The views and opinions expressed in this magazine are those of the authors and contributors and do not necessarily reflect the position of CrossTech, The Platinum Network or IMTC. The content here is for informational purposes only and should not be taken as investment, business, compliance, or legal advice. Content contained within this publication is not to be reproduced in whole or part without the prior written consent of the company. We welcome quotes of our articles by mentioning “CrossTech Magazine” or #crosstech and share the quote with us using our social media channels. 2022
Taking this into consideration, it is a matter of time to see this model replicated in other countries. Thus, an industry with a new vibrant face, more inclusive, and easier to access as the offer of products/services is becoming smarter with the tools and dynamics being born since 2020.
WEB EDITOR Virginia Martínez DIGITAL PRODUCT MANAGER Ana González CREATIVE MANAGER Carolina Busnelli CONTACT US AT María Auxiliadora help@crosstechpayments.comGarcía
| ALL RIGHTS RESERVED EDITOR’S LETTER XT 2
EDITOR’SLETTER
SantosLauriney LeaderIndustry Page 14 NEXTSEPTEMBERISSUE2022 AROUND THE GLOBE no“Criptoativos”Brasil:uma realidade que não pode ser negada e que será regulada Page 6 TO KEEP IN MIND The Importance of an TrainingEffectiveProgram Page 12 COLUMN OF OPINION The Foreign Exchange andMarketNew RegulationsBrazilian Page 22 CRYPTO NEWS Brazilian ProfessionalsTechare a great opportunity for companies around the world Page 10 GADGET CORNER Make your life easier getting the experiences you deserve. Page 24 FINTEL INSIGHT Jogos de Azar no Brasil, Uma discussão tão urgente quanto adiada Page 20 CONTENTS SPONSOR OUR NEXT EDITION ADVERTISING | COLLABORATIONS | OPINION LEADERS | BE IN OUR COVER XT3 SPONSORS 29 HOTEL MAPS 30 AGENDA 32 SPEAKERS 34 TEAM 36 PRINTED EDITION FOR CROSSTECH WORLD 2022
Bernardo Mota - President, IPLD Bernardo Antonio Machado Mota, is currently the President of the Brazilian Institute for the Prevention and Combat of Money Laundering and the Financing of Terrorism, he is also the General Director of Commerce of the AML Risco Reputacional. He is an expert in Public Policy and Government Management. Mitchell Souza, CCI - Keep in Mind Mitchell has dedicated his career to seeking opportunities within the financial services industry. He has been an integral part of the company’s growth since its infancy and now focuses on product management. As a Certified Cryptocurrency Investigator (CCI), Mitchell has been instrumental in identifying compliance services for the crypto industry.
YOUREADINGARE
Vivian Portella - Inside Job Graduated in Foreign Trade and Business Management with specialization in the areas of Governance and Compliance for Financial institutions. Current Director of the B&T Group, founder and executive of B&T Global, and founder and executive of Zrobank, working for more than 15 years in the Financial segment of international transfers.
Marcio Estrela - Around the Globe Economist, with an MBA in finance, more than 25 years of experience at the Central Bank of Brazil, from where he retired in July 2020, when he held, on the Collegiate Board, the role of Chief of Staff for Affairs International and Corporate Risk Management (Direx).
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CONTRIBUTORS
João Manuel - Column of opinion João Manuel has been the COO at Travelex Bank since 2018, when he arrived at the institution. He studied Economic Sciences at PUCC Campinas, and has an MBA in Business Administration from Fundação Dom Cabral. João has been the executive superintendent of operations at Banco Sofisa, deputy director of Banco Santander, executive superintendent of Banco Safra.
1. Muitos dos criptoativos são “opensource” e possuem modelo de governança distribuída onde qualquer minerador ou proprietário de um nó de rede pode participar dos BIPs – Bitcoin Improvement Proposal. As regras de valoração e emissão em geral não dependem dos governos – o lastro ou a garantia da gestão baseiam-se em consenso e aceitação de diretrizes claras de longo prazo que não são capazes de serem gerida via interferência interna ou externa, principalmente governamentais..
OS CRIPTOATIVOS SÃO UMA REALIDADE
THEAROUNDGLOBE XT 6
uma realidade que não pode ser negada e que será regulada O s criptoativos são a representação digital de valor transacionada eletronicamente por meio de criptografia e que pode ser utilizada como forma de investimento, instrumento de transferência de valores ou acesso a serviços.Dadas suas características potenciais de oferta finita e de descentralização,1 os criptoativos tiveram um grande crescimento como alternativa de “reserva de valor” desde o “barateamento do dinheiro” que se seguiu à crise financeira de 2008 (“Subprimes”).
“Criptoativos”noBrasil:
O fato de os criptoativos terem limitações em sua oferta, em contraste ao contexto global no qual os bancos centrais com os QE (“Quantitative Easing”) “inundaram o mundo de liquidez” com oferta quase starnet.estrela.consultoria@gmail.com Márcio Antônio ESTRELA, ex-BCB, é consultor em regulação cambial e financeira, Open Finance, Fintechs, Criptoativos e PLD/FT na “Starnet Estrela – Consultoria & Treinamento em Regulação”.
5. http://www.bcra.gov.ar/Noticias/alerta-sobre-riesgos-implicancias-criptoactivos.asp
infinita das principais moedas, fez crescer muito a utilização dos criptoativos. A característica “não governamental” e descentralizada dos criptoativos reforçou esse crescimento, principalmente em momentos em que se utiliza as moedas nacionais de uso internacional como instrumentos de poder geopolítico em sanções contra países (como as contra a Rússia, Coreia do Norte, Venezuela, Irã).
CRIPTOATIVOS E REGULAÇÃO NO MUNDO Na Argentina, o BCRA (Banco Central de la República Argentina) emitiu, em 20.5.2021, um Comunicado conjunto com a CNV (Comisión Nacional de Valores)5 no qual alerta que os criptoativos apresentam riscos e desafios para os usuários, investidores e para o sistema XT7
A expansão do uso dos criptoativos e a descentralização associada permitiu uma proteção contra a inflação derivada das QEs e contra hiperinflações em alguns países; 2 hedge cambial; 3 redução de custos e aumento da velocidade das transações, incluindo operações de câmbio e remessas, quando são usados como “veículos de remessa cambial”;4 universalização de acesso a serviços financeiros, inclusive permitindo levar ao investidor de varejo investimentos que hoje estão disponíveis apenas aos investidores de atacado.
2. BOFF, Salete Oro; FERREIRA, Natasha Alves. “Análise dos benefícios sociais da bitcoin como moeda”, in: Anuario mexicano de derecho internacional; 2016, vol.16, pp. 499-523. ISSN 1870-4654: https://www.scielo.org.mx/scielo.php?script=sci_arttext&pid=S1870-46542016000100499.
3. Isso é feito com participação de liquidadores intermediários como as Exchanges em um fluxo onde o importador compra a “Stable Coin” como proteção a volatilidade cambial e depois vende com ágio no momento do pagamento da importação.
4. As instituições autorizadas a operar em câmbio podem usar do criptoativo como “veículos de remessas” para entrega/recebimento das divisas, Também, os residentes podem usar os criptoativos para remessas, comprando-os no país pagando em BRL e os vendendo no exterior recebendo em USD/EUR/GBP.
Apesar de algumas proibições, a tendência tem sido a de se regular os criptoativos, com destaque para a MiCA (Markets in Crypto-Assets Regulation), no âmbito da União Europeia; e as regulações da FCA (Financial Conduct Authority), no Reino Unido; do BaFin (Bundesanstalt für Finanzdienstleistungsaufsicht), na Alemanha; da AMF (Autorité des Marchés Financiers), na França; da MAS (Monetary Authority of Singapore); da FSA (金 –Financial Services Agency), no Japão. Adicionalmente, os reguladores não consideram que estes criptoativos exponham o sistema financeiro a vulnerabilidades porque, apesar do crescimento acelerado da sua utilização, 6. http://www.bcra.gov.ar/Noticias/BCRA-desalienta-oferta-criptoactivos-sistema-financiero.asp 7. https://www.bbc.com/news/technology-58678907 (original do PBoC: http://www.pbc.gov.cn/goutongjiaoliu/113456/113469/4348556/index.html)
Atualmente não existe legal que explicite a competência e supervisionar os criptoativos, se adota a similaridade seu tratamento (por exemplo, a Exchange, regula a instituição Exchange movimenta financeiro como um todo, destacando que os criptoativos: Não são moeda de curso legal; Não têm garantias ou proteção legal; Têm elevada volatilidade com riscos de grandes perdas de valores; São passíveis de “disrupções operacionais” e de Sãociberataques;objetode“informação
incompleta”, falta de transparência e passíveis de Apresentamfraudes; riscos de LD/FT e de descumprimento de normas cambiais; Têm o caráter de operações transfronteiriças com contrapartes não alcançáveis em eventuais necessidades de arbitragem de conflitos. E agora, em 5.5.2022, o BCRA avançou na linha do PBoC e proibiu as instituições financeiras de darem curso a operações com criptoativos. 6 Na China, o PBoC (People’s Bank of China, o BC da China) foi adotando restrições sucessivas e crescentes aos criptoativos (2017, 2018, 2019, 2020) até que, em 24.9.2021, tornou ilegais todas as transações com criptomoedas, sujeitando quem desobedecer a ser processado como criminoso.7 El Salvador, por outro lado, tornou os criptoativos como meio de pagamento XT 8 de curso legal a partir de 7.9.2021.8
8.“El Salvador passa a usar bitcoin como uma das moedas oficiais do país”: https://bit.ly/3SvVwk5
9. O especialista Thiago Caminha da Silva (Swapfy/Opey) destaca que existe uma “exposição indireta” aos criptoativos não totalmente “mapeada”. Investidores de mercado de capitais se expõem ao deterem ações de empresas que estão acumulando criptoativos em caixa – os criptoativos fazem parte da composição de caixa de grandes empresas e grandes investidores. 10. https://www.bcb.gov.br/estabilidadefinanceira/exibenormativo?tipo=Comunicado&numero=25306 11. https://www.bcb.gov.br/estabilidadefinanceira/exibenormativo?tipo=Comunicado&numero=31379 XT9 ela é ainda proporcionalmente marginal frente ao volume dos ativos financeiros – embora caso se consiga manter o crescimento exponencial de sua utilização, poderá apresentar riscos no futuro.9 O impacto em PLD/FT, entretanto, já é relevante.
existe no Brasil um marco competência de regular criptoativos, de forma que similaridade e aproximação no exemplo, se não regula instituição por onde a movimenta seus recursos).
Inicialmente o BCB (Banco Central do Brasil) decidiu não regular criptoativos, apenas emitindo Comunicados com alertas sobre “os riscos decorrentes de operações de guarda e negociação das denominadas moedas virtuais” (Comunicado BCB 25.306, 10 de 19.2.2014, e Comunicado BCB 31.379,11 de 16.11.2017), explicitando que: Criptoativo não é moeda e não se confunde com moeda eletrônica de banco central; Criptoativo não tem garantia; Criptoativo tem risco elevado (inclusive de perda total); O BCB não regula criptoativo, seus emissores e negociadores; Criptoativos são muito utilizadas para atividades ilícitas, sujeitando os detentores a responsabilidades administrativas e Criptoativos,penais; quando implicam transferências internacionais, exigem a realização das operações de câmbio exclusivamente por meio de instituições autorizadas para não configurarem crime financeiro. A CVM, também, adotou a mesma linha, explicitando que criptoativos: Em sua maioria não configuram valores mobiliários passíveis de investimento; Não são garantidos nem protegidos; São de alto risco (só investidores de alto risco podem ter em suas carteiras). COMPLETE ARTICLE
EVOLUÇÃO DO STATUS DA REGULAÇÃO DE CRIPTOATIVOS NO BRASIL ATÉ 8.2022
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Vivian Portella
XT 10 INSIDE JOB
R ecently, B&T Câmbio carried out a survey on a topic widely publicized by the Brazilian media, which points to a 72% increase in the IT and software development export from Brazil to the world in 2021. The increase from USD 18 million to USD 31 million in transactions carried out by our customers could be explained by the strong trend of labor internationalization that my country is experiencing, followed by the recurring depreciation of the Real currency against the US Dollar. While the pandemic basically shook the entire service sector towards digitalization, the remote work broke down all geographic barriers and popularized the offer of technology services by Brazilian professionals from this area, who stand out for their commitment, qualification, and Customersflexibility. who look for our services share with us that they are leaving their formal jobs in Brazil to provide, from their local home offices, their services to foreign companies, mainly American ones. Following this path, the reflection of this trend affected the number of international payments carried out by our foreign exchange company, which achieved a 53% increase in operations in this segment from 2020 to 2021. Local taxation in Brazil also benefits the professionals who provide this kind of service. The conversion of US Dollars in to Reais benefits the international companies, thus making the business favorable for both parties. In addition to help Brazilian tech professionals, we are also expanding our operations to offer an international payment solution for companies around the world that hire this kind of professionals in Brazil, through the group's international unit located in Miami, FL. This movement is part of a global agenda promoted by Brazilian regulatory bodies in the sense of greater competitiveness, inclusion, and innovation in a market that was traditionally restricted to large companies. With new players arriving, your company will gain in costs, time, transparency, and access to services structured according to your needs.
Brazilian Tech Professionals are a great opportunity for companies around the world
REGISTER NOW August 23, 2022 | 4PM - 5PM EST Via ZOOM - Free registrarion
"When it comes time for your annual Third Review,IndependentPartyyouwillberequiredtoshowproofthatyourstaffhastakentheappropriatetrainingbasedontheirmoneyservicesresponsibilities."
A thorough and efficient training program is one of the most critical aspects for financial services businesses to stay in compliance and mitigate fraud. A good training program enables proper required education throughout your business and ensures compliance becomes a standard in your
THE IMPORTANCE OF AN TRAININGEFFECTIVEPROGRAM
Creating a culture of compliance through your employee training program will prevent fraud and money laundering.
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Theoperation.Financial Crimes Enforcement Network (FinCEN) requires, as one of the pillars of an Anti-Money Laundering Program, to “provide education and training of appropriate personnel concerning their responsibilities under the program, including training in the detection of suspicious transactions to the extent that the money services business is required to report such transactions under the BSA.” Your training program should include how to identify suspicious activity, understanding specific thresholds for additional reporting depending on services, anti-money laundering basics, key terms applicable to your industry, penalties of non-compliance, etc. For larger or multilocation operations, it’s imperative that you have an automated system for training, as it becomes challenging to manage tens, if not hundreds, of Inemployees.addition, when it comes time for your annual Third Party Independent Review, you will be required to show proof that your staff has taken the appropriate training based on their money services responsibilities. This is one of the many reasons why adopting an automated online training platform benefits compliance management.
| Director of salesMitchell Souza, CCI TO KEEP IN MIND Follow us Here are some features to keep in mind when searching for an effective training platform and content provider: Custom, up-to-date training content, with a relevant library of Bulkcoursesenrollment capability Automated enrollment and completion email notifications Individual user activity tracking Automated and custom reporting Pass/fail thresholds Easy to reach the customer service team Adhering to these features will ensure that your training program meets industry standards and will save you both time and money in the long run. XT13
After this period of intense studies, I realized I became very interested in understanding how money was transferred between countries. Additionally, I immersed myself in crypto assets and payments studies. This led the way to strongly believe there was an opportunity for synergy, with a high potential to be the future of the payments industry. A new normal was effervescent. I talked to several people back in Brazil and invited them to join me on a new project. We further developed the concept alongside these new people and named the company Beeteller. Our name comes from the free translation to the Portuguese of the term bee box because, like bees, our purpose has always been to connect different points in an even more specific way, moving money between these points.
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| Founder
LS. In 2016 I decided to transform my life, ending a cycle as an executive of companies such as Avon, Danone, and Unilever. At the time, I sought professional assistance from a career transition specialist. This support led me to the idea of entering the financial market.
With this new purpose in mind, I moved to the United States. I spent a year studying in detail the financial sector, which led me to visit a diversity of other countries such as China, Vietnam, and others in Latin America and Europe.
LEADERSINDUSTRY & COO LAURINEY SANTOS
XT. HOW DID YOU COME UP WITH YOUR BUSINESS IDEA? "WHAT'S THE STORY BEHIND YOUR COMPANY?"
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WHAT DOES "SUCCESS" MEAN TO THE COMPANY? WHAT DOES IT MEAN TO YOU?
HOW DID THEY IMPACT YOUR LIFE AND YOUR SUCCESS?
LS. I wouldn't want to separate what success means to me and what it means to Beeteller. After all, my goals and dreams walk alongside the company's vision. And when we talk about success, what matters to me the most is the Wepeople.wouldn’t have a reason to exist if it wasn’t for those who are part of our community, whether we refer to those that stand outside our company, those who use our solutions to facilitate their day-to-day activities, or those who work with us leading projects and initiatives to promote the company’s development in the industry. Beeteller is a company with a lean structure but with highly talented people committed to the business. Besides transforming the payments sector, my main ambition is to generate job opportunities and professional development as we foster progress and the growth of society.
LS. Beeteller was born from an idea four extraordinary entrepreneurs had. This idea became an aspirational goal; to transform and revolutionize the payment industry. Those who joined me in the early Beeteller years became Beeteller cofounders. They play a crucial role in the evolution of our company’s organizational culture, which is based on promoting a dynamic and innovative work environment on a daily basis. Without them, Beeteller wouldn't be the same. XT 16
XT. WHO WERE THE PEOPLE WHO HAVE BEEN THE MOST HELPFUL IN GETTING YOU TO WHERE YOU ARE TODAY?
I'm very grateful and honored to have the opportunity of learning with and from them as we build together the future of the payment industry. Each strategic company area is led by one of them, guaranteeing every business need is fulfilled according to their different professional backgrounds, expertise, and knowledge. My executive team, the Beeteller cofounders; Caio Vidal, Kelly Santos, and Rodrigo Nunes, have impacted me the most as we all embrace and share the responsibility to oversee Beeteller’s growth and transformation.
XT.
Beeteller is a company with a lean structure but with highly talented people committed to the business. Besides transforming the payments sector, my main ambition is to generate job thefosterdevelopmentandopportunitiesprofessionalasweprogressandgrowthofsociety.
LS. We must understand that even the best economists in the world could not predict the escalation of the different circumstances that have impacted the economy worldwide. The COVID-19 Pandemic, failed foreign policies, the Ukraine War, and government changes in several countries around the world, have led our industry to a place of highinterest rates and a great deal of attention to the inflationary factor. Stable and emerging economies have suffered
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WHAT MAKES BEETELLER UNIQUE AND DIFFERENT FROM THE LS.COMPETITION?
We focus on relationships and providing quality service to our merchants. All customers have a direct line with the company's founders. We prioritize delivering high-quality products and technology, so our customers' businesses never stop. Our client may have problems, but it won't be in payments! XT. HOW DO YOU SEE THE CROSSBORDER INDUSTRY IN THE NEXT 10 LS.YEARS?
From the beginning, when we founded Beeteller, our vision has always been that, at some point, the money movements in the world would be carried out through crypto. Today, without a doubt, we see this Personally,happening.I do not believe that the collection of local payments will see significant transformations unless, of course, by improving technologies. Now, this will see significant changes regarding the movement of international remittances. Today, sending international remittances through blockchain already represents a substantial volume of cross-border transactions worldwide. With the rise of CDBCs (Central Bank Digital Currency), moving money internationally instantly will be a Beetellerreality. is prepared for this new moment. Today we already have all the infrastructure for this transformation. The settlement via crypto already represents approximately 90% of our operations, and whenever we ask our clients about performing their transactions via SWIFT or crypto, the option is always crypto. The reason for this is very clear: via crypto, the values will be in the account in only 10 seconds; via Swift, depending on the country, this can take up to 5 days. The revolution is just beginning. XT. HOW DOES BEETELLER SEE THE CURRENT MOMENT OF THE WORLD MARKET AND THE MOVEMENT THAT HAS LED STARTUPS AROUND THE WORLD TO FACE SERIOUS CASH AND LIQUIDITY PROBLEMS?
LEARN MORE ABOUT BEETELLER
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these consequences. In this context, especially for startups, we see a considerable decrease in the supply of international capital because the so-called risk assets are less attractive, and new investment rounds are less frequent. The reflection of this has been observed in layoffs, cost-cutting, and often in the review of the business model of startups themselves, which should now focus on the search for cash Atgeneration.Beeteller, at this moment, we recognize ourselves in a different scenario. While, for years, we have watched other startups work to search for international investors, we have always been focused on generating our cash and moving forward soberly into new opportunities. We consider ourselves a camel, always resistant, resilient, living in environments of possible scarcity, and, at the same time, always moving forward consciously and continuously. We were born bootstrap and still have no investors within our business. We always prioritize the profitability and selfsustainability of the business. And this is how we intend to transmute and renew the payments industry around the world.
Lauriney Santos, Caio Vidal, Rodrigo Nunes, Kelly Santos & Antônia Carvalho.
fromyou’dsotechnologyPaymentcuttingedgethinkitwasthefuture Meet us at Crosstech World 2022 Miami 15 - 17 November / booth #G1
Por uma questão concreta: logo acaba o prazo estabelecido para a regulamentação da Lei no. 13.756/2018, que trata das “apostas de quota fixa”, um tipo de jogo de azar, embora menos vistoso que cassinos ou afins.
XT 20 FINTEL INSIGHTS
Isso pode estimular a conversa sobre a legalização dos jogos de azar. Marcado por tabus, esse setor merece ser considerado também de outros ângulos, que levem em conta seu potencial de transformações econômicas para a sociedade e de arrecadação para o Estado. Trata-se de uma discussão complexa, a começar do ponto de vista legal.
Bernardo FinanciamentoIPLDPresidenteMotado(InstitutodePrevençãoàLavagemdeDinheiroeaodoTerrorismo
“ A repressão aos jogos de azar é um imperativo da consciência universal” – estas palavras estão na abertura do decreto-lei que, desde abril de 1946, proíbe essa atividade no Brasil. Quase oitenta anos depois, porém, não só a “consciência universal” deixou de lado essa tendência, a exemplo do que se vê em outros países, como o próprio Brasil tem relativizado o “imperativo”. Mantendo-se ou não a proibição, a urgência do debate é fato.
JOGOS DE AZAR NO BRASIL Uma discussão tão urgente quanto adiada
Ao mesmo tempo que o tornam atraente do ponto de vista do Estado, pela possibilidade de arrecadação ou pelas oportunidades que os jogos e sua cadeia econômica oferecem (geração de empregos e vinculação ao turismo, por exemplo), esse volume e esse apetite do mercado o tornam vulnerável a tentativas de lavagem de dinheiro. É um risco, ainda mais numa situação jurídica nebulosa, mas não uma inevitabilidade. Um modelo possível para impedir ao máximo a lavagem de dinheiro em jogos de azar seria algo próximo do que se vê hoje no setor bancário.
“É um risco, ainda mais numa situação jurídica nebulosa, mas não uma inevitabilidade. Um modelo possível para impedir ao máximo a lavagem de dinheiro em jogos de azar seria algo próximo do que se vê hoje no setor bancário. ” XT21 A regra (não) é clara Do ponto de vista jurídico, há duas dificuldades imediatas. A primeira delas, ilustrada pela situação da Lei no. 13.756/2018, aprovada, mas não regulamentada, está na ausência de normas definidas para parte dessa atividade. Isso afeta toda a cadeia. Tome-se o caso das “apostas de quota fixa”, não raro virtuais. Sem parâmetros legais para a instalação, no território brasileiro, das empresas responsáveis, elas continuam operando internacionalmente, à distância. Com isso, perde o Estado, deixando de arrecadar num mercado que opera na escala do bilhão de dólares; e perde a sociedade, que ficaAfinal,vulnerável.émuito mais difícil haver uma fiscalização séria (imprescindível nesse setor) de longe, em pleno limbo normativo. A outra dificuldade está no tabu em torno dos jogos de azar. Frequentemente moralista (como aquela vaga “consciência universal”), a interdição não impediu que uma fatia da população praticasse essa atividade, ora em viagens internacionais a países onde é permitida (como Uruguai, EUA, Inglaterra, Mônaco etc.), ora aqui mesmo no Brasil, por vias ilegais.
A oscilação entre a proibição e a pressão do mercado moldou uma tendência às “microssoluções”, as tentativas de remediar a situação em vez de esclarecê-la: pode loteria, mas não cassino; podia bingo antes, agora não pode mais; pode “aposta de quota fixa”, mas não se sabe como, etc.
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A internacionalização e a praticidade da internet só intensificaram o teor insustentável da excentricidade brasileira, tão incerta e tão contrastante com os países citados, onde os jogos de azar são um setor econômico altamente controlado e rentável. Um mercado cheio de apetite – e de riscos É preciso desfazer o limbo normativo justamente por se tratar de um mercado cobiçado, de vultosas movimentações financeiras.
of asymmetries in the requirements for opening, maintaining and operating nonresident accounts in Reais (R$) in comparison to those required for resident accounts. These changes are fundamental and will produce enormous effects in the client's relationship with the institutions authorized to operate in FX, bringing more transparency and balancing the responsibilities of those involved in FX transactions.
S ome time ago, I wrote an article about the new FX legislation, demonstrating some of the main changes and innovations that the Central Bank of Brazil (BACEN) was planning to implement based on Law 14.826 of 29.12.2021, enacted by the Brazilian Congress.
Now, we are facing Public Consultation No. 90, which begins to clarify and reflect the changes so desired by the market, with implementation scheduled for January 2023. Among the requirements disclosed, these are the main points highlighted by BACEN: Allowing the use of the authorized institution's own criteria to request or waive accessory documentation for the course of FX transactions, considering the client's assessment and the characteristics of the Simplifytransaction.the procedure for classifying the purpose of the FX transactions. Free format for the course of FX transactions, observing the requirements established by ReductionBACEN.
This will take the Brazilian FX market to a
The Foreign Exchange Market and New Brazilian Regulations
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By: João Campanelli
If we take a closer look at Public Consultation No. 90, we notice that some of the main changes will be that the client will be able to choose the nature/purpose of the operation, no longer requiring formalization with BACEN.
There will be major changes in the day-today life of companies, which will be impacted by the assumption of responsibility for information and the correct classification of their operations, now being fully responsible for their actions.
Finally,legislation."wecan
The ideal world is that, from now on, we can be updated to be really inserted in a global payment community that will bring to Brazil a strong currency (Real), an economy that is increasingly healthy and without internal or external influences, only influences of the dayto-day market. XT23
I also think that implementation and adjustment process will have to extend over the next 2(two) to 3 (three) years, because there are many details to be defined and many which still conflicting with each other in the current consult,and as BACEN's own announcement states, from 2023 "the relevant issues will be further discussed and may be adjusted in new
new level, more in line with the realities and practices around the world, especially in developed countries, where a FX transaction is executed in the same way that a payment is made on a daily basis.
Although financial institutions, and also those authorized to operate in FX, are the main beneficiaries of the new legislation, we also see that there will be important changes in the day-to-day operations of companies, which will be affected by the assumption of responsibility for the information and correct categorization of their operations, now becoming fully responsible for their actions. Even though this situation does not eliminates the responsibility of the agents authorized to conduct FX operations to recognize the classification as correct, companies will now have full control of their payments, and with this, I believe that we will see more and more digitized and automated processes, making it easier to conclude FX transactions.
see that the process of disruption begins in the FX market and we have a long way to go. The beginning is exciting, but full of pitfalls that we have to be aware of to ensure that the changes are made in the best possible way, without the necessity of constantly rethinking this issue.
COLUMN OF OPINION
XT 24 EXPERIENCE GC GADGET CORNER a guide to... 24 CORNERGADGET I n this edition, we present a compilation of technological devices aimed at making your life easier with a touch of fun, emotion, and above all, a practical way of doing things and getting the best experience you deserve. Enjoy! ARLO VIDEO DOORBELL
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The Arlo video doorbell perfectly balances price, features, and usability. Its standout feature allows differentiating between people, animals, vehicles, and packages, making it an intelligent tool that will only send the notifications you want. You can create motion zones and get alerted when someone steps in—the option to turn off alerts when being at home ensures a better experience than a regular device.
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Being eco-friendly was never so comfortable The circular economy has a twist with this outrageous clothing line. A T-shirt made out of crab, yes, you got it right! This T-shirt is made of chitosan, an extract obtained from shellfish. According to Allbirds, the creators, this unique blend has odor-fighting properties, having a surface that is hard for bacteria to colonise. With these ecologically responsible options in the market, you can do your part of the work while being comfortable.
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KODAK LUMA 150 POCKET PROJECTOR
XT25 COMFORT a guide to... 25GCGADGET CORNER
BUY NOW 29 USD BUY NOW
Ready to go This pocket projector is the perfect fit for your briefcase or backpack. Now you can take the professionalism of your work with you anywhere, anytime to make an impact with your presentations at all times. The Luma 150 portable projector is designed to expand the screen to up to 150 inches while delivering bright, vivid images. It includes built-in, sorround-sound speakers and a headphone jack for when private viewing is needed. The battery can deliver 2.5 hours and you can recharge it via mini USB.
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AGENDA DAY 1 // November 15, 2022 Coffee Break - Networking Meetings10:00 - 11:15 Coffee Break - Networking Meetings14:45 - 16:00 Lunch Break12:45 - 14:00 Assessing 09:00 - 09:15 Welcome Course Participants 09:15 - 10:00 MTCC Compliance Course: AML Risk Management Foundations of AML Risk Management Cryptocurrency Crypto Cryptocurrency Partnerships Cryptocurrency MTCC Compliance Course: AML Risk Management Building, Updating & Managing an Anti-money Laundering Risk Assessment 11:15 - 12:00 MTCC Compliance Course: AML Risk Management Controlling Your Risk Partners andVendor Risk (Banks, Payment Processors,Correspondents, Forex, Traders) 12:00 - 12:45 MTCC Advanced Compliance Workshop UPDATES: Regulatory; Sanctions, USA (State & Federal Level) MTCC Advanced Compliance Workshop UPDATES: Regulatory; Sanctions, EU & other International MTCC Compliance Course: AML Risk Management Using Tools for Risk Management and Managing Regulators14:00 - 14:45 Welcome Reception at the Pool 16:45 - 17:30 16:00 - 16:45 18:00 - 21:00 SEMINOLE BALLROOM A XT 32 AGENDA DAY 1 // November 15, 2022 Coffee Break - Networking Meetings10:00 - 11:15 Coffee Break - Networking Meetings14:45 - 16:00 Lunch Break12:45 - 14:00 AssessingPartnerships:Managingyour 09:00 - 09:15 Welcome Course Participants 09:15 - 10:00 MTCC Compliance Course: AML Risk Management Foundations of AML Risk Management Cryptocurrency Crypto Business Cryptocurrency Partnerships Cryptocurrency Solutions MTCC Compliance Course: AML Risk Management Building, Updating & Managing an Anti-money Laundering Risk Assessment 11:15 - 12:00 MTCC Compliance Course: AML Risk Management Controlling Your Risk Partners andVendor Risk (Banks, Payment Processors,Correspondents, Forex, Traders) 12:00 - 12:45 MTCC Advanced Compliance Workshop UPDATES: Regulatory; Sanctions, USA (State & Federal Level) MTCC Advanced Compliance Workshop UPDATES: Regulatory; Sanctions, EU & other International MTCC Compliance Course: AML Risk Management Using Tools for Risk Management and Managing Regulators14:00 - 14:45 Welcome Reception at the Pool 16:45 - 17:30 16:00 - 16:45 18:00 - 21:00 SEMINOLE BALLROOM A SEMINOLE
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Cryptocurrency Workshop: Using Crypto in Payment Cos Solutions in the Market (Service Showcase)
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The Digital Way your Digital Strategy - Transformation Challenges
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The Digital Way Partnerships: Solutions in the marketplace Course
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The Digital Way Managing your own path: Try/Fail & Pilots
Cryptocurrency Workshop: Using Crypto in Payment Cos Crypto Business Basics - Crypto & Forex Management
The Digital Way Partnerships: Solutions in the marketplace
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XT 34 SPEAKERS CUEVAS-MOHRHUGO ALBERTOGUERRA ITTLEMANANDREW OLMAN-PALDANIELWOODMARINA GAMBOADARIO MAZURSKYRONALD GREENWOOD-FIELDAMY BERENICELEON SCHNEIDERERICK DICHARRYCAROLYN MUÑOZZORYMARQUEZJAIMENABILKABBANI GARRISONROBIND'OLIVEIRAPRISCILLA CICCOLOJOE TOMASOFSKYKATHYCONFIRMED SPEAKERS
CrossTech OUR TEAM Hugo Cuevas Mohr President & CEO CrossTech PriscillaCOOD'Oliveira CrossTech Ma. Fernanda Valera María A. García Ana DirectorManagerCustomerDigitalGonzálezEventsCoordinatorServiceDigitalProduct&ContentMarcelaMolinaSr.DesignerCarolinaBusnelliDianaJofreCreativeManager&ContentExecutiveAssistantJuanPosadaBusinessAnalystClaudiaÁvilaofConferencesandSalesVirginiaMartínezITConsultant Jennifer Holguín LeadUKLourdesConsultantSotoSpainConsultantIsabelCortesConsultant XT 36
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