Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

Cryptoknowmics 2022-04-28 08:19:29

Rio Joins the Cryptocurrency Party, and Brazil Passes a Bill Regulating Cryptocurrencies

After months of suspense, Brazil has finally enacted a bill establishing the country’s crypto framework. The Chamber must approve the bill of Deputies before President Jair Bolsonaro can sign it into law. It is planned to be operational by the end of 2022. Rio Joins The Party, Brazil Passes Bill To Regulate Cryptocurrencies — Rémi Bonnet (@rmi_bonnet) April 27, 2022 The Brazilian Senate has Passed a Bill into Law South America’s most populous country is gradually enacting legislation to govern its digital asset economy. The Senate has passed a bill establishing a comprehensive regulatory framework for bitcoin and other cryptocurrency transactions. According to the Senate bill, a ” digital representation of value that can be traded or transferred electronically, ” a “virtual asset” is a “digital representation of value that can be traded or transferred electronically, including payments and investments,” according to the Senate bill. According to the bill, local cryptocurrency providers should only operate within the country. They would be needed to obtain a licence from a Federal Public Administration organisation or entity. As a result, the government has yet to decide if more legislative amendments are necessary. The bill, first submitted in 2015, permits the Brazilian executive branch to impose limits on virtual assets. The measure must specify whether the industry will be controlled by Brazil’s centr...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.