New crypto law has approved in Brazil

New crypto law approved in Brazil

30 November 2022


The Chamber of Deputies of Brazil approved crypto payments throughout the country. 

Cryptocurrencies do not have legal tender around the country despite the new crypto law’s approval. 

Digital currencies and air mileage programs will be payment methods only under the  control of the country Central Bank.

In detail: the Brazil Central Bank will be involved when people use Bitcoin as payment; the Country Security and Exchange Commission will supervise when Bitcoin is used as an investment benefit. 

BCB, CVM and RFB - Federal Tax Authority - gave birth to the realization of the new legislation. 

SOURCE: BitcoinMagazine


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