Chamber of Deputies Approves 'Miles Bill': Understanding the Impact on Your Wealth and Liquidity

The approval of the bill regulating loyalty programs marks a structural shift in how Brazilians manage consumer digital assets. By defining distinct regimes based on conversion into legal tender, the legislature aims to mitigate the legal uncertainty affecting millions of users, amid a backdrop where the commercial dollar, at R$ 5.19, has risen 1.58% over the last 7 days, indirectly increasing international airfare costs. The new rule is crucial as it removes absolute corporate discretion over account blocking, a long-standing consumer grievance regarding points confiscated without due process. With the Selic rate at 14.00% p.a. and 12-month IPCA at 4.44%, the regulation enforces liquidity mechanisms, turning volatile benefits into financial assets with greater predictability. This measure strengthens property rights and reduces risk premiums, effectively creating a more robust secondary market and forcing companies to adapt or allow unrestricted point trading.