A Saturday report from Brazilian media outlet Seudinheiro explains that a series of new proposals from Brazilian lawmakers could reduce the criticism crypto gets in South America’s largest country.
Congress also heard a proposal for cryptocurrency to be regarded as a currency as opposed to a commodity. If this proposal passes, crypto exchanges will be able to provide financial services and issue loans to Brazilian residents.
“Crypto is rising rapidly in Brazil and the regulatory bodies have been very proactive and protective on incentivising mining and drafting policies on best practices as major businesses announced their plans on including crypto.”
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