Brazil recognizes bitcoin as a means of payment
In Brazil, bitcoin can be used as a means of payment and an investment asset. The law that secured this status for him was signed by President Jair Bolsonaro.
The head of state approved the document proposed by the Congress without changes. It will enter into force 180 days after signing. In the law, bitcoin is characterized as a digital representation of value.
The Bank of Brazil is expected to be responsible for using the first cryptocurrency as a payment. The Securities and Exchange Commission will take responsibility for overseeing digital gold as an investment asset.
