If YOU would like to be on a CRYPTO PING LIST, please pm me.
The Crypto Ping List covers the following:
Bitcoin
Ethereum
Other coins built on the Ethereum blockchain mining
etc.
Thanks! For it - or ag'in it, it'll be a wild ride.
Posted on 11/30/2022 2:28:41 PM PST by aMorePerfectUnion
Brazilian lawmakers have approved a complete regulatory framework for the trading and use of cryptocurrencies in the country.
Voted on Tuesday evening in Brasilia, the country’s capital, the new rules recognize bitcoin as a digital representation of value that can be used as a means of payment and as an investment asset in the South American nation.
The bill applies broadly to a sector which it calls “virtual assets,” and now only needs the President’s signature before it becomes law. It does not make bitcoin or any cryptocurrency a legal tender in the country.
The bill tasks the executive branch with selecting government bodies to oversee the market. The expectation is that the Central Bank of Brazil (BCB) will be in charge when bitcoin is used as payment, while the country’s securities and exchange commission (CVM) will be the watchdog when it is used as an investment asset. Both the BCB and the CVM, along with the federal tax authority (RFB), helped lawmakers craft the overhaul legislation.
Home to a vibrant cryptocurrency economy, Brazil has at times seen more citizens trade coins such as bitcoin than invest in the stock market. Now, the country seeks to set the stage for that to translate into more day-to-day usage in financial transactions.
If YOU would like to be on a CRYPTO PING LIST, please pm me.
The Crypto Ping List covers the following:
Bitcoin
Ethereum
Other coins built on the Ethereum blockchain mining
etc.
Thanks! For it - or ag'in it, it'll be a wild ride.
PING!
My 2 BTC...
This may be significant because Brazil is one of the BRIC nations that are expanding the financial system as an alternative to the Western debt-based economies.
New banking. New currency coming supposedly.
As such, if Brazil moves in this direction, BTC may continue to find a welcoming home in the new group of nations... maybe.
Connection to the latest election…
A half dozen lawmakers from the political leadership are suddenly the proud owners of well funded - and completely anonymous - crypto accounts!
Brazil is in Civil War.
The Lula part of Brazil would be for BTC and against BRICS.
Vice versa for Bolsonaro - against BTC and for BRICS.
As I write this, Bankman-Fried (FTX CEO) is being interviewed live on CNBC.
Rehearsing his story for Federal Court?
How’s el Salvador doing lately after going in with btc?
Yes. That is what makes this fascinating as it unfolds
Don’t know, but if you post an article I’ll read it.
And I’ll ping the list of FReepers who are interested.
Get filthy rich before the tulips wilt
To put it mildly, probably not the best idea to practice your testimony on national TV.
Yep, my comment though was just that BTC would be anathema to BRICS. BRICS is being setup to move away from fiat, and away from the US Dollar, and towards precious-metals based currency.
Guessing precious metal/and or commodity basket value…
That said, we’ll see how it shakes out.
I’m carefully watching the expansion of the BRICS, and I expect Turkey and a number of Middle East nations to add to the BRICS roll call.
I’m doing my best to unfold a plan that gives us access to both financial systems.
I spent Thanksgiving with a friend from El Salvador. No discussion about the economy there so I assume her parents and remaining family aren’t hurting. Presidente Bukele is still very popular. Zero reported homicides during the past few months. Right after All Souls Day, he had the elaborate headstones of gang members destroyed. Apparently he isn’t satisfied with eliminating gangs. He wants their memory destroyed. He’s also been bragging that El Salvador is no longer on the top ten list of immigrants that move to the U.S.
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