Brazilian lawmakers have backed a complete regulatory framework for the trading and use of cryptocurrencies in the country.
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The Chamber of Deputies of Brazil, a federal legislative body, has approved a regulatory framework that legalizes the use of cryptocurrencies as a payment method, but the passing of the bill does not make any cryptocurrencies legal tender within the country.
While this makes significant progress for crypto within Brazil, the law still requires the signature of the president of Brazil for it to be enacted.
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In addition to allowing crypto as a payment method, the law enables the creation of licenses for crypto exchange platforms and for custody and management of crypto by third parties.
