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A new law project askes the Brazilian parliament to adopt Bitcoin and other cryptocurrencies as a means of payments.
The Art. 835 states that “crypto assets, understood as digital representations of value that, not being currency, have their own unit of measure, traded electronically through the use of cryptography and within the scope of distributed ledger technologies, used as a financial asset, means of exchange or payment , instrument of access to goods and services or investment”.
Brazil is actively opening its legislation contraints to allow more blockchain adoption and cryptopayment acceptance in the country.
The new law could allow (article 4) “In the event of offering or forced constriction of the assets (…), the following rules will be observed: access, by the Judiciary, to the users' private key is prohibited, the debtor may offer crypto-assets as collateral (…)”
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