Brazil approves bitcoin and other cryptocurrencies as means of payment and prepares the ground for licensing crypto companies. According to the Brazilian federal government’s official journal, Brazilian president Jair Bolsonaro approved a bill into law on Dec. 23. President Bolsonaro implemented the legislation passed by Congress without any changes. The bill creates a comprehensive regulatory framework for trading bitcoin (BTC). It acknowledges cryptocurrency as a digital representation of value that can be utilized in Brazil as a payment method and investment instrument. The bill defines a ‘virtual asset’ as a digital representation of value that can be bargained or transacted
The Brazilian Securities and Exchange Commission (CVM) on Friday approved investment funds to hold crypto assets. On December 23, the Brazilian CVM approved the ability for investment funds to hold cryptocurrency assets. According to the regulator, funds will be allowed to operate in the crypto sector while paying attention to…
The Brazil National Congress has received a bill prompting the legalization of salary and remunerations in Bitcoin and cryptocurrencies. Luiz Phillipe of Orleans-Braganza, Sao Paulo’s former federal deputy, has submitted a bill to the Congresso Nacional de Brazil seeking the legalization of Bitcoin payments. The prominent politician filed for the…