Brazilian lawmakers approve a bill governing the use of bitcoin as payment
Join Our Telegram channel to stay up to date on breaking news coverage A comprehensive regulatory framework for the usage and trade of cryptocurrencies in Brazil has been adopted by the country’s legislature. The new regulations, which were approved on Tuesday night in Brasilia, the nation’s capital, acknowledge bitcoin as a digital representation of value that can be used in the country as a means of payment and as an investment instrument. The bill, which covers a broad range of what it refers to as “virtual assets,” is now all that is needed for it to become law: the president’s signature. The country does not now recognize bitcoin or any other cryptocurrency as legal cash. The use of bitcoin as payment is now governed under a comprehensive legislative framework for cryptocurrencies adopted by Brazilian lawmakers The executive branch is given responsibility in the bill for choosing the agencies that would regulate the market. The Centr...