Bitcoin ready to do the Samba? – The Brazil come close to allowing the use of Bitcoin (BTC) as a means of payment? Anyway, after the approval of a crypto bill to Senate Brazilian in April 2022, it is now the House of Representatives who just adopted it as well. Only the presidential signature will be missing.
The “Bitcoin Law” Passed by Brazil’s Houses of Parliament
It’s under the number PL 4401/2021 (formerly PL 2303/2015) than a law Project – which can be described as “pro crypto” – is in the process of coming into force in Brazil. In any case, he successfully passed the two parliamentary stages of the South American country.
After its vote in the Senate last April, this law favoring Bitcoin and his fellows just passed in front of the Camara dos Deputados (the Chamber of Deputies of Brazil). This law proposes the inclusion of digital currencies as ” payment terms “ under the supervision of the Brazilian Central Bank.
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Yes to crypto payments, but Bitcoin is not put in the rank of the real
The Chamber of Deputies definitely comes to approve this text of law on November 29, 2022. It will therefore give a legal status cryptocurrency payments for goods and services in Brazil.
Pay attention, however, to not to be confused with El Salvador : this law does not grant the status of national currency to bitcoin and digital assets. If in El Salvador the BTC is at the same level as the American dollar (legal currency), in Brazil the king of cryptos can be used for payments in the same way, for example, as the loyalty points of frequent airline travelers (the “miles”).
It should also be noted that the president’s signature of Brazil is still required before this law can be promulgated and come into force. Likewise, remember that the great Latin American country is also working on its central bank digital currency (MNBC). Last April, the first tests were even announced for “Real Digital”.
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