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 vehicle in the South American nation.
The bill applies broadly to a sector it calls “virtual assets,” and now only needs the president’s signature before it becomes law. It does not make bitcoin or any other cryptocurrency a legal tender in the country.
