This is could be a much bigger news that it looks like right now in the near future. When you consider that Brazil is a member of BRICS and kind of a "leader" in South America since they can convince a bunch of other countries in South America to do the same specially because they have good economical relations amongst themselves.
In other words in the following year or two we could see a lot of other countries accept bitcoin as a legal payment method...
As I posted in some other topic, this law is not what it looks like
It has nothing to do with payment method. This is much worse, and it is just old oligarchs trying to increase barriers to new players.
Tldr: bad, old, national exchanges trying to ban binance and every other foreign one that can offer a better service
I imagine what would happen to customers from crypto platforms which potentially become forbidden by local regulators through this law. Customers from Binance, Crypto.com or any other service providing credit/debit cards, investments' opportunities. Would they lose their money, lose access to services and investments and become hostages of useless, abusive, non-profitable local crypto services protected and endorsed by the country government's agencies? I've already stopped using local exchanges before due to high costs imposed on users and I don't pretend using them again futurely. And if we are going to be forced to, an alternative must be found.