You can see the rules and regulations in other jurisdictions.
Referring to the entities that carry out activities through self-executing agreements and automated investment transactions, the regulators say the following.1
Self-executing agreements or, in other words, 'smart contracts', are remarkable developments within the frameworks of blockchain technology. Thus, due to lack of specific regulation for these very technological applications, smart contracts are not stipulated in Brazilian legislation so far and might be put under questions regarding their legal nature, enforceability, validity and other parameters obligatory for agreements. Nonetheless, they are not illegal and in case the general contractual provisions are accomplished, in specific cases smart agreements might be made the same manner as ordinary agreements.1
Client identification in Brazil
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