Bitcoin will soon become currency in Brazil, according to Federal Deputy Oreo Ribeiro – Bitcoin News

Brazilian Federal Deputy Oreo Ribeiro said in an interview with local media that Bitcoin could soon become a recognized currency in Brazil. The politician said that Brazilians will be able to buy houses, cars, and even fast food at McDonald’s through cryptocurrency in the near future. Bill 2.303 / 15, which governs cryptocurrencies, may authorize the legal use of assets such as El Salvador.

Bitcoin can be a controlled currency in Brazil

Bitcoin could become a regulated currency for payments in Brazil in the near future, according to a statement from federal deputy Orio Ribeiro. Ribeiro said that with the future approval of cryptocurrency regulatory bill 2.303 / 15, new uses will remain open for crypto holders, such as buying houses, cars and even food at restaurants like McDonald’s.

These comments are the result of the approval of the so-called Brazilian “bitcoin law” for presentation in the plenary of the Chamber of Deputies, after being stuck in development for many years. Ribeiro added that, by its design, the law could be a reference for other countries willing to control digital resources, saying its text was “innovative”. In this sense, Ribeiro emphasized:

We have debated there for years to get to a text that recognizes these resources … which will be regulated by a government agency, because depending on how these resources will be recognized we will work with the central bank and CVM, such as real estate The value or currency of daily use.

Ponzi scheme control

Ribeiro is also very positive about the impact of the law on the protection of citizens from the sector’s registry schemes. Brazilians in particular have been the victims of these scandals, with authorities taking action against the promoters of these so-called register schemes several times this year. However, Brazil’s cryptocurrencies are still a gray area, and the authorities ’ability to control these entities is limited within their limits. Ribeiro stressed that the government wants through this law:

Separate wheat from bran, make rules so you can trade, know where you are buying, know who you are working with.

In conclusion, the federal deputy said the law project had the support of the government, and it was discussed with Arthur Lira, president of the Chamber of Deputies. For Ribeiro, it’s just a matter of time before the law is approved.

What do you think of a “bitcoin law” in Brazil? Tell us in the comments section below.

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