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....
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....
Today BTCFlow has launched the first institutional exchange in Brazil, Latin America’s largest economy. “The digital currency market in Brazil is still in its infancy,” said Marcelo Miranda, founder of BTCFlow. “However, we are seeing aggressive growth and adoption in other markets, and have no doubt Brazil will follow suit.” BTCFlow was founded by Marcelo Miranda, a nine-year veteran of the Brazilian division of Deutsche Bank. While at Deutsche, he was the head of equity trading for Brazil. Spanning all of his career, he has accumulated over 15 years in finance and technology.