Bitcoin Will Become Currency in Brazil Soon, According to Federal Deputy Aure...
Aureo Ribeiro, a federal deputy in Brazil, stated that bitcoin might become a recognized currency in Brazil soon, during an interview with local media. The politician stated that Brazilians may be able to purchase houses, cars, and even fast food at McDonald’s with cryptocurrency in the near future. Bill 2.303/15, which regulates cryptocurrencies, might approve the legal use of the asset, similar to El Salvador. Bitcoin Might Become Regulated Currency in Brazil Bitcoin might become a regulated currency for payments in Brazil in the near future, according to statements....
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The Receita Federal, Brazil's tax authority, has established how it will treat the holding and usage of bitcoin and other digital currencies. The news, first reported by Valor and Folha de S. Paulo, confirms that the Brazilian government does not view bitcoin as a currency. The Receita Federal is taking a stance similar to the one announced by the US Internal Revenue Service last month. However, there are some key differences that sets Brazil's stance toward digital currencies apart from those of other governments. Tax limit. Like the United States, Brazil is treating digital currencies as....
Brazil is making strides toward the integration of Bitcoin into its economy. The National Congress has recently introduced a new measure that aims to enable employees to receive a portion of their salaries in cryptocurrency. Related Reading: Ethereum Needs A Leader—Or Its Future Could Be In Jeopardy, Ex-Engineer Warns Luiz Philippe, a former federal deputy […]
A new bill presented in Brazil is trying to introduce bitcoin and other cryptocurrencies as an approved means of payment in the country. The bill, presented by Federal Deputy Paulo Martins, proposes to amend already existing regulations to include several dispositions that would allow cryptocurrency payments and investments to be officially supported.
New Bill Proposes to Legalize Crypto for Payments in Brazil
Brazil is one of the countries in Latam that has been making advancements when it comes to cryptocurrency regulation in the last year. Now, a new bill has been proposed in....
The Federal Revenue of Brazil wants investors to pay taxes on cryptocurrency trading profits, even if there is no exchange for Brazil's national currency. Brazil's Federal Reserve (RFB) has declared that Brazilian investors in the crypto-assets market must pay income tax on transactions that involve the like-kind exchange of cryptocurrencies; for example, Bitcoin for Ethereum.The RFB's declaration was published in the Diário Oficial da União and was the result of a consultation made by a citizen of the country to the regulator. At the end of last year, the group issued an opinion in which....
Paulo Guedes said that the Brazilian real will have a digital counterpart and also highlighted the autonomy of its central bank. Brazilian Economy Minister Paulo Guedes has said that Brazil will issue its own central bank digital currency, or CBDC.Guedes made the statement on Thursday during a ceremony celebrating the 100 millionth digital savings account opened at Caixa Economica Federal:"Now that the central bank is autonomous again, it’s also amazing in the digital dimension: Pix, OpenBank, fintechs and digital currency. Brazil will have its own digital currency. Brazil is ahead of many....