Thursday, December 22, 2022

Brazil Enacts Bitcoin Payments Bill

Good news! However, I do not know what the latest status is on the Brazilian presidential election 2022. Has Bolsonaro conceded? Is he contesting the outcome? The article is unusually mute on this subject!

"Brazilian President Jair Bolsonaro on Thursday morning signed a bill into law that establishes a complete regulatory framework for the trading and use of bitcoin in the country, according to the federal government’s official journal (DOU).

President Bolsonaro enacted the bill approved by Congress without any modifications. As previously reported, the new rules recognize bitcoin as a digital representation of value that can be used as a means of payment and as an investment asset in the South American nation.
A virtual asset is "a digital representation of value that can be negotiated or transferred electronically and used for payments or as an investment," per the bill’s text.
The new law, which goes into effect 180 days after today’s signature, does not make bitcoin or any cryptocurrency a legal tender in the country. ..."

Brazil Enacts Bitcoin Payments Bill - Bitcoin Magazine - Bitcoin News, Articles and Expert Insights

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