{"id":518439,"date":"2022-11-30T10:43:29","date_gmt":"2022-11-30T07:43:29","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/brazil-passes-law-to-legalize-crypto-as-a-payment-method\/"},"modified":"2022-11-30T10:43:29","modified_gmt":"2022-11-30T07:43:29","slug":"brazil-passes-law-to-legalize-crypto-as-a-payment-method","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/brazil-passes-law-to-legalize-crypto-as-a-payment-method\/","title":{"rendered":"# Brazil passes law to legalize crypto as a payment method"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3dfd4de649e\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3dfd4de649e\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/brazil-passes-law-to-legalize-crypto-as-a-payment-method\/#%E2%80%9D_Brazil_passes_law_to_legalize_crypto_as_a_payment_method_%E2%80%9C\" >&#8221; Brazil passes law to legalize crypto as a payment method &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Brazil_passes_law_to_legalize_crypto_as_a_payment_method_%E2%80%9C\"><\/span>&#8221; Brazil passes law to legalize crypto as a payment method &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNzJkZWFmYWQtM2U5MS00NmYxLThiM2ItYmVlODU2NTMzMjFmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-b8b12140>While Brazil has not made Bitcoin (BTC) legal tender as El Salvador did last year, the South-American nation has passed a law that legalizes crypto payments throughout the country.\u00a0<\/p>\n<p>The Chamber of Deputies of Brazil, a federal legislative body, has <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.camara.leg.br\/proposicoesWeb\/fichadetramitacao?idProposicao=1555470&amp;fichaAmigavel=nao\">passed<\/a> a regulatory framework that legalizes the use of cryptocurrencies as a payment method within the country. While this makes significant progress for crypto within Brazil, the law still requires the signature of the president of Brazil for it to be enacted. <\/p>\n<p>The passing of the bill does not make any cryptocurrencies legal tender within the country. However, the bill will include digital currencies and air mileage programs in the definition of payment methods that are under the supervision of the country&#8217;s central bank. <\/p>\n<p>After being passed into law, the government&#8217;s executive branch must decide which office will be will be in charge of supervision. Still, tokens that will be considered securities will remain under the jurisdiction of the Brazilian Securities and Exchange Commission (CVM).<\/p>\n<p>Apart from designating crypto as a payment method, the law enables the creation of licenses for crypto exchange platforms and for custody and management of crypto by third parties. In addition to this, the law will require exchanges to make a clear distinction between company and user funds, to avoid another incident like the FTX collapse. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>UAE regulator revokes FTX license amid the exchange\u2019s collapse<\/em><\/strong><\/p>\n<p>Back in June, a similar proposal was issued to allow Brazilians to use crypto as a means of payment and protect their private keys from being taken by courts. The proposal aims to make crypto assets a means of exchange and an &#8220;instrument of access&#8221; to goods, services, or investments. <\/p>\n<p>Meanwhile, while the FTX collapse has impacted many sectors within the crypto space, it will not affect everyday crypto use for Brazilians according to Thiago C\u00e9sar, the CEO of Transfero Group, which is closely tied to the Brazilian crypto ecosystem. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/brazil-passes-law-to-legalize-crypto-as-a-payment-method\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Brazil passes law to legalize crypto as a payment method &#8220; While Brazil has not made Bitcoin (BTC) legal tender as El Salvador did last year, the South-American nation has passed a law that legalizes crypto payments throughout the country.\u00a0 The Chamber of Deputies of Brazil, a federal legislative body, has passed a regulatory&#8230;<\/p>\n","protected":false},"author":1,"featured_media":518440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMTEvNzJkZWFmYWQtM2U5MS00NmYxLThiM2ItYmVlODU2NTMzMjFmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[76276,75917,74889,74355,22483,70934],"class_list":["post-518439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-payments","tag-exchanges","tag-payments","tag-adoption","tag-brazil","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/518439","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=518439"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/518439\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/518440"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=518439"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=518439"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=518439"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}