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Bitcoin Will Become Currency in Brazil Soon, According to Federal Deputy Aureo Ribeiro

Aureo Ribeiro, a federal deputy in Brazil, mentioned that bitcoin may become an acknowledged currency in Brazil soon, throughout an interview with regional media. The political leader mentioned that Brazilians might be able to purchase homes, vehicles, and even junk food at McDonald’s with cryptocurrency in the future. Bill 2.303/15, which manages cryptocurrencies, may authorize the legal usage of the possession, comparable to El Salvador.

Bitcoin Might Become Regulated Currency in Brazil

Bitcoin may become a managed currency for payments in Brazil in the future, according to declarations provided by Aureo Ribeiro, a federal deputy. Ribeiro mentioned that with the future approval of Bill 2.303/15, which manages cryptocurrencies, brand-new usages would be open for crypto holders, such as purchasing homes, vehicles, and even food in dining establishments like McDonald’s.

These comments are the item of the approval of the so-called Brazilian “Bitcoin Law” for discussion in the Plenary of the Chamber of Deputies, after being stuck in advancement for several years. Ribeiro also mentioned that, by its style, this law might be a referent for other nations wanting to manage digital possessions, stating its text is “ingenious.” In this sense, Ribeiro worried:

We disputed a couple of years there to reach a text that acknowledges this possession… which will be managed by a federal government company, since we will deal with the Central Bank and the CVM, depending upon how this possession will be acknowledged, such as property worth or currency of everyday usage.


Controlling Ponzi Schemes

Ribeiro is also extremely favorable about the impact this law is anticipated to have in safeguarding residents from Ponzi plans in the sector. Brazilians have actually been particularly struck hard with these frauds, with the authorities having to act versus the promoters of these declared Ponzi plans a number of times this year. However, cryptocurrencies in Brazil are still a gray location, and authorities are restricted in the scope of their capability to manage these business. Ribeiro worried that with this law, the federal government desires to:

Separate the wheat from the chaff, develop policies so that you can trade, understand where you are purchasing, understand who you are handling.

To conclude, the federal deputy stated that the law job had assistance in the federal government, and it has also been gone over with Arthur Lira, president of the Chamber of Deputies. To Ribeiro, is simply a matter of time for the law to be authorized.

What do you think of a “Bitcoin law” in Brazil? Tell us in the comments area below.



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