What’s in Brazil’s Crypto Bill – Bitcoin Magazine

Brazil’s Chamber of Deputies on Tuesday approved landmark cryptocurrency legislation that sets the tone for how the country will regulate bitcoin.

Key aspects of the bill relate to the definition of “virtual assets” and their possible local uses, who can provide services to the public, and what penalties are provided for fraud and money laundering related to cryptocurrencies.

The bill has been debated in Congress for seven years, but recent events in domestic and global markets, including the fall of the prominent stock exchange FTX, delayed its vote and subsequent approval.

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