A Good News For All BITCOIN CASH Holders - Brazil Legalize Crypto as method of Payment

0 239

Written by

_Bringing Bitcoin Cash to Africa | content creator[just me carrying the world].

1 year ago

Topics: Bitcoin Cash, Cryptocurrency, BCH, Peer to Peer Electronic Cash

The country of samba, pagode and ginga in Soccer, Brazil, has just passed a law that makes it LEGAL to make payments using cryptocurrencies in the territory.

The law makes it possible for Brazilian citizens to make payments for goods and services using crypto, making this type of transaction legal, but cryptocurrencies are still not LEGAL TENDER in the country.

The law was approved by the Brazilian Chamber of Deputies, lacking only the signature of the President of the Republic, the document has the designation code - PL 4401/2021, which includes cryptocurrencies as a legal means of payment in the country.

The new law, which only needs the President of the Republic to put it into action, will be supervised by the Central Bank of Brazil, opening a new story with crypto being Legal status.

Good News for All BITCOIN CASH holders

With the news of the approval of the Law in Brazil, Bitcoin Cash holders residing or passing through Brazilian territory will be able to make payments using the currency for products they need and pay for services they want.

Brazil is a very beautiful country, with breathtaking beaches for any visitor, it has magnificent Portuguese architecture from colonial times, the Amazon rainforest and thousands of tourists pass through every year who want to spend a good time under the summer sun thanks to the new law a large part can pay using Bitcoin Cash.

And not only that, Brazil is the country with a direct approach to consumption using crypto with several investors adopting Bitcoin Cash it has the largest ETFs in Latin America many banks and brokers have some openness to investment using decentralized currencies.

Recently, the CEO of the Leve Investimentos application formed a partnership that makes Bitcoin Cash a means of payment within the app's ecosystem in Brazil, making Bitcoin Cash an essential means for every Brazilian citizen who intends to invest using the instrument.

The application's CEO was in ST KITTS and Nevis and participated in the Bitcoin Cash conference having the pleasure of living in Loco the environment that involved Bitcoin Cash as a means of payment during the event as well as afterwards, in every corner and also in the hotel which gave to elucidate how important the currency is for daily transactions.

The approved law will only galvanize the use of Bitcoin Cash in the Brazilian territory and increase a significant number of people who want to spend their holidays in the country and spend the currency, after all, who doesn't like to spend a good time on Sugarloaf Mountain or even have the privilege of enjoying Rio de Janeiro and paying only using Bitcoin Cash in a QR scan?

Bitcoin Cash is a Peer-to-Peer currency with low fees and fast transactions that facilitates e-commerce and payments for merchants who want to get paid for items they sell in Bitcoin Cash.

However, it is important to remember that despite Bitcoin Cash being a means of payment for goods and services in Brazil, it is still not LEGAL TENDER, but with legal status for the acquisition of consumable goods and payment for services.