{"id":71846,"date":"2022-12-22T18:08:51","date_gmt":"2022-12-22T16:08:51","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=71846"},"modified":"2025-09-08T11:27:15","modified_gmt":"2025-09-08T08:27:15","slug":"bitcoin-recognised-as-a-payment-method-in-brazil","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-recognised-as-a-payment-method-in-brazil\/","title":{"rendered":"Bitcoin recognised as a payment method in Brazil"},"content":{"rendered":"

Bitcoin will be usable in Brazil as a means of payment and as an investment asset. The law that established this status, signed<\/a> by President Jair Bolsonaro.<\/p>\n

The head of state approved the document proposed by Congress without changes. It will take effect 180 days after signing. Bitcoin is defined in the law as a digital representation of value.<\/p>\n

The Central Bank of Brazil is expected to oversee the use of Bitcoin as a means of payment. The Securities and Exchange Commission will take responsibility for supervising digital gold as an investment asset. Together with the country’s Tax Authority, the two agencies were co-authors of the law<\/a>.<\/p>\n

Bitcoin Magazine<\/a> did not rule out that the country’s central bank would not facilitate the creation of a favourable regime to promote Bitcoin as a means of settlement.<\/p>\n

The president of the Central Bank of Brazil, Roberto Campos Neto, citing volatility, has repeatedly said that he does not view cryptocurrencies as an alternative to fiat.<\/p>\n

Earlier the regulator promised<\/a> to roll out a CBDC in 2024 after a closed pilot program with financial institutions. In Neto’s view, the new means of payment will not violate monetary policy and will not harm banks.<\/p>\n

Earlier, Bitcoin was approved as a means of payment by the authorities of El Salvador<\/a> and of the Central African Republic<\/a>.<\/p>\n

Read ForkLog’s Bitcoin news in our Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin will be usable in Brazil as a means of payment and an investment asset. The law establishing this status was signed by President Jair Bolsonaro.<\/p>\n","protected":false},"author":1,"featured_media":71847,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,1437,36],"class_list":["post-71846","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-brazil","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71846","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=71846"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71846\/revisions"}],"predecessor-version":[{"id":71848,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/71846\/revisions\/71848"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/71847"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=71846"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=71846"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=71846"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}