Brazil’s ministry of finance published the new ordinance in Brazil’s Official Gazette of the Union. It outlines how the regulations approved in Bill 3,626 will be implemented in the coming months, with an aim to be completely implemented by the end of July 2024.
The order established the Regulatory Policy of the Prizes and Betting Secretariat (SPA), a ministry of finance body which will structure and publish the incoming regulation as per the guidelines.
The body will aim to provide clarity on the legal aspects of the regulation and prioritise the most pressing measures for enactment.
“This measure’s main objective is to systematically structure the regulatory agenda for fixed-odd betting in the country and represents a considerable advance in the management and supervision of this sector,” said the ministry of finance.
