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Brazil: Chamber of Deputies Approves Autonomy of Brazilian Central Bank

(Mar. 2, 2021) On February 10, 2021, the Brazilian Chamber of Deputies approved Draft Law No. 19/2019, which grants autonomy to the Brazilian Central Bank (Banco Central do Brasil). The law defines the period for the mandates of the president and directors of the Central Bank, which must not coincide with that of the president […]

Israel Establishes Interagency Team for Coordinating Regulation of Virtual Assets

(Dec. 28, 2018) Israel’s central bank, the Bank of Israel, announced on December 18, 2018, the establishment of an interagency team for regulatory coordination in the area of virtual assets. In the view of the Israeli financial system’s regulators, cooperation is necessary because of Israeli industrial developments based on distributed ledger technology (DLT) uses and […]

Italy: Amendments to the National Budget Law

(Oct. 6, 2016) On September 9, 2016, new legislation amending the national budget entered into effect in Italy. (Law No. 163 of August 4, 2016, Amending Law No. 196 of December 31, 2009, Concerning the Content of the Budget Law, Implementing Article 15 of Law No. 243 of December 24, 2012 (Law No. 163), GAZETTA […]