According to the information published on Portal do Bitcoin, the Atlas Project is launching the Association of Cryptocurrency and Blockchain (ABCB), represented by major cryptocurrency exchanges. Atlas adopts the best practices for the security of crypto assets, including operations in reliable exchanges and constant realization of invasion tests and stability in the system.
The association created by Atlas would become an opponent of previously formed Brazilian Crypto-Economy Association (ABCripto), which is represented by such crypto exchanges as Bitcoin Market, Foxbit, Bitcointrade, Walltime, Braziliex and FlowBTC. Both of associations have a goal to defend the interests of cryptocurrency holders and traders in Brazil.
ABCB will defend the cryptocurrency markets in Brazil, defend privacy and regulations that will not end innovation. There is legal uncertainty. Depending on the purpose, it may be considered a means of payment or a financial asset.
Reportedly, Natalia Garcia, a vice president of ABCripto and a legal director of Foxbit, stated that she had no idea that the competitor organization was being formed. Nevertheless, there is a chance that both associations will become partners in the future.