The President of Brazil, Jair Bolsonaro, has signed a bill into law that establishes a regulatory framework for the use and trading of bitcoin in the country.

The law, which takes effect 180 days after being signed, recognizes bitcoin as a digital representation of value that can be used as a means of payment and as an investment asset. It does not, however, make bitcoin or any cryptocurrency a legal tender in Brazil.

This post is for subscribers only

Sign up to read the post and as well as all other member only posts. Subscribing only takes a few seconds and will give you immediate access.
Subscribe now