Does Brazil have a bill regulating the crypto industry?

Follow CoinDesk Brasil on Twitter. Brazil's Chamber of Deputies approved a bill on Tuesday regulating the crypto industry. The bill, which was approved by the Senate in April and had been stuck in the Chamber of Deputies, now requires the approval of the executive branch to become law.

What does Brazil's new regulatory framework mean for Bitcoin & cryptocurrency markets?

Here’s everything that’s in Brazil’s new regulatory framework for bitcoin and cryptocurrency markets. A virtual asset is “a digital representation of value that can be negotiated or transferred electronically and used for payments or as an investment,” per the bill’s text.

Is bitcoin legal in Brazil?

Crypto acceptance as a legal tender in Brazil comes with a host of new regulations and oversight. Brazil’s authorities are introducing a bill to allow Bitcoin in all the transactions of small and large businesses.

Can you pay tax using cryptocurrency in Brazil?

Brazil allows the tax payment using cryptocurrency starting in 2023, announced by Rio de Janeiro by this it will become the first city to allow payment of tax using crypto. The payments will be immediately converted to Brazilian reais through the company.