Bitcoin should become legal payment in Brazil

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Brazilian Federal MP Aureo Ribeiro has revealed that Brazilians may soon be able to buy homes, cars and even McDonald’s with Bitcoin.

The South American nation is preparing to vote on a cryptocurrency regulation bill that is expected to be presented to the House of Representatives plenary in the coming days.

“We want to separate the wheat from the chaff, create regulations so that you can trade, know where you are buying and who you are dealing with,” Ribeiro said.

“With this asset, you will be able to buy a house, a car, go to McDonald’s to buy a hamburger – it will be a currency in the country as has happened in other countries.”

Bill 2.303 / 15, which calls for the regulation of virtual currencies, was approved for presentation last week.

If it gets the approval of the Chamber of Deputies this week, Brazil seems ready to follow El Salvador’s example and make Bitcoin legal tender.

Brazil “cryptographic law” as an example for other countries

The Brazilian MP said he was satisfied with the approval of the “Bitcoin law”, and pointed out that Brazilians are already facing Bitcoin in many places, with the possibility of buying, selling and investing in it. sector.

However, Aureo noted that the market is still unregulated and, as such, does not offer legal recognition.

He said he was sure, however, that with the approval of the bill, several other countries could copy his country’s regulatory model.

“We debated for a few years so that a text that recognizes this asset finally arrives,” he explained.

“This will allow transactions of this asset in our country, which will be regulated by a government agency.

“We have already reached an agreement with the Central Bank and the Brazilian Securities Commission (CVM) on the opportunities of this asset and its recognition, for example, the real estate value or the currency of daily use.”

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Aureo Ribeiro said he was convinced that the text of the bill has the quality of improving the reality of Bitcoin in Brazil.

He was keen to point out that the bill had broad government support and had already been aligned with the Speaker of the Chamber of Deputies – Arthur Lira – meaning there are few other obstacles to its approval.

A study by Sherlock Communications using the Toluna research platform showed that 48% of Brazilians want Bitcoin adoption, with 31% agree and 17% strongly agree.

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