Brazil, a country that is know for being prone to cryptocurrencies, approved so called Bitcoin law which will regulate crypto. It is the first such bill, however it still needs to be approved by the Chamber of Deputies and then as a final move, President Jair Bolsonaro needs to sanction it.
The bill was first submitted in 2015 by federal deputy Aureo Ribeiro. Senator Ribeiro's bill was then combined with Senator Arns' bill PL 3825/2019, for which Senator Irajá Abreu was the rapporteur, and adopted by the Senate on April 26 after extensive consideration. During the debate, the Senate confirmed that the country's executive branch would oversee developing crypto-asset regulations, with the option of creating a new regulator or delegating authority to the Securities and Exchange Commission (CVM) or the Central Bank of Brazil (BC). Several senators, including the bill's author, Senator Arns, focused discussion on suitable sanctions for crypto crimes, particularly fraud, during the conference. Senator Arns believes that the severity of the sanctions should be proportional to the amount of fraud or crime that one committed.
Sources:
https://cointelegraph.com/news/brazil-s-senate-approves-bitcoin-law-to-regulate-cryptocurrencies
https://www.thestreet.com/crypto/news/brazilian-senate-greenlights-bitcoin-law