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    Suspected herdsmen ambush Benue policemen, kill DPO

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    Nigerians will soon know the “actual truth” about Atiku – Gov Wike

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    PDP condemns Tinubu’s ‘sponsored’ attack on Buhari in Kano

    Security features of the new naira notes revealed by the CBN

    DSS intercepts syndicates selling new naira notes, bank officials implicated

    • Nigeria
    • Africa
    • World
  • Economy
    • All
    • Budgets
    • Economic Data
    • Policies
    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    FG explains why Nigeria’s total debt will rise to N77 trillion by the end of May 2023

    U.S unemployment fell to a five-decade low

    U.S unemployment fell to a five-decade low

    Nigeria’s total public debt rises by over 20% YoY to N32.92 trillion

    Nigeria’s total debt rise above N44 trillion – DMO

    FG approves 39 licences for fish importation

    Q3 2022: Nigeria’s total trade stood at N11.6 trn, total export falls nearly 20% QoQ

    Update: Central Bank of Nigeria instructs banks to close accounts related to Crypto

    JUST IN: CBN limits weekly cash withdrawal to N100k

    Law to legalize crypto as a payment method passed in Brazil

    Law to legalize crypto as a payment method passed in Brazil

    Will Nigerians in diaspora be committing an offence if they make a campaign donation?

    Rivers and Oyo State to join others in establishing small claims courts

    Non-oil sector contributes 93.67% to Nigeria’s GDP in Q2 2022

    Nigeria’s GDP growth slows to 2.25% in Q3 2022, oil sector contribution declines further

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

    Buhari to unveil new naira notes Wednesday — no longer Dec 15

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    Equity Market turns bearish… As Value Traded Spikes by 409.01%

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    Local Bourse closed in Bullish Territory… As NGX-ASI at 0.31%

    NGX-ASI Turns Bullish…As Oil & Gas sector closed at a Gain of 1.58%

    The Okomu Oil Palm Plc announces N7.00 interim dividend for H1 2022

    Local Bourse Records 2nd Day Loss…… As NGX-ASI Decreases by 0.02%

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    DMO offers N360 bn FGN Bonds for subscription in January

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    37 years between the Buhari regimes… Economic lamentations remain the same

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    FACT CHECK: Did Buhari inherit lowest oil production as Tinubu claims?

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Home Markets Cryptocurrencies

Law to legalize crypto as a payment method passed in Brazil

Wednesday, 30 November 2022, 8:23 pm
in Cryptocurrencies, Economy, Markets, Policies
0
Law to legalize crypto as a payment method passed in Brazil
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A law that legalizes crypto as a payment method has been approved by the Chamber of Deputies of Brazil, and now requires the the signature of the president of Brazil for it to be enacted.

The Chamber of Deputies is a federal legislative body and the lower house of the National Congress of Brazil. The chamber comprises 513 deputies, who are elected by proportional representation to serve four-year terms.

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The regulatory framework passed by Brazil’s federal legislature legalizes the use of cryptocurrencies as a payment method throughout the country.

The move is significantly different from that of El Salvador, who made Bitcon a legal tender in 2021.

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’s central bank.

The law in addition to designating crypto as a payment method, also provided the following;

  • the creation of licenses for crypto exchange platforms and for custody and management of crypto by third parties.
  • requires exchanges to make a clear distinction between company and user funds.
Nnamdi Maduakor
Nnamdi Maduakor

Nnamdi Maduakor is a Writer, Investor and Entrepreneur

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