I saw the headline and thought we will be having another El Salvador experience in Brazil only to discover they didnt make bitcoin a legal tender. I think the goal of the Brazil government is to regulate bitcoin and cryptocurrencies. And they are using the FTX scandal as an excuse to do so. I could be dead wrong or paranoid. What do you guys think about this development in Brazil? Is it good or bad for bitcoiners in Brazil?
[snip]
The bill applies broadly to a sector which it calls virtual assets, and now only needs the Presidents signature before it becomes law. It does not make bitcoin or any cryptocurrency a legal tender in the country.
This was actually
old news. I was planning to create a thread about the latest news before I see your post. The Brazilian lawmaker has passed the law and the President is what is needed to make it official.
The
latest news now is that the Brazil's President has signed the bill into law this morning and it creates a thorough regulatory framework for the country's use and trading of bitcoin.
Brazil becomes a hodler.