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In Brazil, Bitcoin Acceptance Comes With Rules

In Brazil, Bitcoin Acceptance Comes With Rules



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5 Comments

  1. tldr; Brazilian authorities are introducing a bill that would allow bitcoin to be used across all manner of transactions, large and small. The bill also offers a range of regulations that would boost the fines tied to crypto-related money laundering. The maximum prison time for those crimes would increase from 10 years to more than 16 years.

    *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

  2. “But in addition to proposing that bitcoin be used in a variety of payments, the bill also offers a range of regulations that would boost the fines tied to crypto-related money laundering. Those fines would increase from one-third of the amount of money laundered to two-thirds of the amount. The maximum prison time for those crimes would increase from 10 years to more than 16 years”

  3. Brazil’s bureaucracy on the economy is worse than China’s, and in fact it’s closer to Ethiopia than to China lol – https://www.heritage.org/index/ranking – so I always knew it was guaranteed that that (or any) additional law will always increase bureaucracy in here.
    What I think what happened is that sooo many people got scammed by ponzis that they lobbied their politician friends to “tackle” more on this area, but of course it will be pointless.

    Make no mistake: Brazil is not El Salvador. Brazil still has it’s Central Bank. And they are fully on-board with the tendencies of fiat leaders. Money printer go brrr.

What do you think?

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