Brazil Legalizes Crypto Payments, 'Setting the Stage for Greater Bitcoin Adoption'
Source: Adobe / simonmayer The President of Brazil Jair Bolsonaro signed a bill making bitcoin (BTC) and other cryptoassets a legal and regulated payment option in the country - and this move, an expert says, "sets the stage for greater bitcoin ad option ." Bolsonaro signed a bill into law that established the country's official and complete framework for the trading and use of “virtual currencies” in Brazil, per the federal government’s official journal. The bill, previously approved by Congress, was signed on Wednesday and published on Thursday. It stated that, "For the purposes of this Law, a digital representation of value that can be traded or transferred by electronic means and used to make payments or for investment purposes is considered a virtual asset." Therefore, this does not include national and foreign currencies, electronic currencies, instruments that provide certain benefits and services (such as points and rewards from loy...