Brazil Approves Use Of Bitcoin As Payment – Bitcoin Magazine

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Brazilian lawmakers have approved a complete regulatory framework for the trading and use of cryptocurrencies in the country.

Voted on Tuesday evening in Brasilia, the country’s capital, the new rules recognize bitcoin as a digital representation of value that can be used as a means of payment and as an investment asset in the South American nation.

The bill applies broadly to a sector which it calls “virtual assets,” and now only needs the President’s signature before it becomes law. It does not make bitcoin or any cryptocurrency a legal tender in the country.

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