Today I will share with you a detailed news about the law approved by the Senate to regulate bitcoin and cryptocurrencies in Brazil.
The year 2022 continues to pass with the decisions to be taken by countries for bitcoin and cryptocurrencies. Although countries such as Belarus and Ukraine officially accept bitcoin and cryptocurrencies as legal, some countries are trying to ban them, while some countries are abstaining. I continue to share the official decisions taken by countries with cryptocurrencies and the news of the regulations with the hashtag #alikoc07-cryptonews
Today, I recently shared with you the news that the Thailand Stock Exchange (SET) plans to officially allow the trading of bitcoin and cryptocurrencies, and now I will try to give you detailed information about the law on the regulation of bitcoin and cryptocurrencies in Brazil.
The Brazilian Senate Committee on Economic Affairs (CAE) announced today that they have officially approved a bill to accept and regulate bitcoin and cryptocurrencies. Information about the official approval of this bill was shared both on the official website of the Senate and on its twitter account. By clicking on the links below, you can see the news shared by the Senate on the website and the tweet they shared. This bill was first approved by the lower house and will then await approval by the Senate. Finally, I would like to remind you that this bill will wait for signature by Brazilian President Jair Bolsonaro before it can be officially implemented.
Information Shared by Brazilian Senate Official Website
If this bill is approved by the president of Brazil, Brazil will be the largest country to regulate bitcoin in Latin America. 🔝
I would like to share with you some of the information from the draft law. The institution that will make decisions about cryptocurrencies in the country has been chosen as the Central Bank. The main reason for this is that the Central Bank of Brazil is actively working in this draft law.
With this regulation, it is intended to expand the use of cryptocurrencies by encouraging users living in Brazil to invest in cryptocurrencies securely, while encouraging people in the country to use cryptocurrencies while shopping or buying any property (properties such as houses e🏠, cars 🚗) in daily life. I think it's a great decision, being able to use cryptocurrencies in daily life and buy things is an indication that the asset is actually tangible.
My Thoughts:
Regulations that can best protect investors for cryptocurrencies will contribute to the market and provide confidence. This will allow many people around the world to safely invest in cryptocurrencies, make transfers and even shop in their country of residence. As I always say, I find the regulations good, not bad, of course, the tax rates should be at a level that will not force the investor here.
Which Latin American country do you think is the next to make regulations regarding crypto money?
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