A proposed addition to an existing Brazilian law would grant Brazilians the right to use cryptocurrency as a means of payment while protecting their private keys from being taken by the courts.
Federal Deputy Paulo Martins issued the proposal to the country’s legislature on June 10. If passed, the bill would expand both the legal uses of cryptocurrency in Brazil and the power the courts would have in confiscating it.
BRAZIL: Bill introduced for #Bitcoin and crypto to be recognized as means of payment!
— Bitcoin Archive (@BTC_Archive) June 14, 2022
The proposed addition in Article 835 of the Civil Procedure Code states that while crypto assets, is not currency in and of itself, it could be “used as a financial asset, means of exchange or payment, or instrument of access to goods and services or investment.”
It would not necessarily make Bitcoin or any crypto legal tender in the country. It would instead make crypto a legally recognized financial asset for investments and other uses....
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