Will Bitcoin Become a Legal Tender in Brazil?After El Salvador’s historic move to accept Bitcoin as a legal tender last month, reports indicate that Brazil may soon follow suit. According to recent statements by Aureo Ribeiro, a federal deputy in Brazil, Bitcoin is on track to be accepted as a legal tender in Brazil. Ribeiro stated that the government is on the brink of finalizing plans to accept Bitcoin with the help of the Central Bank of Brazil.
The details-During an interview with local media, the politician stated that Brazilians would be able to purchase houses, cars, and even fast food at McDonald’s with Bitcoin after the approval of the law. The federal representative also mentioned the debate from the past few years to legalize digital assets. According to Aureo, Bitcoin will be regulated by the government agency in coordination with the Central Bank of Brazil.
If Brazil successfully positions Bitcoin as a legal tender, it can set an example of regulating digital assets for the world.
