Brazil to Approve Bitcoin as Regulated Currency Soon: Federal Deputy


According to a Brazil federal deputy, Aureo Ribeiro, Bitcoin (BTC) could soon become a recognized currency for payments in Brazil. Ribeiro noted that the potential approval of Bill 2.303/15, which focuses on cryptocurrency regulation, will create new uses for crypto holders, including purchasing houses, cars, and other products.

These comments come following the approval of the Brazilian “Bitcoin Law” for presentation in the Plenary of the Chamber of Deputies, following a protracted developmental period. Ribeiro asserted that this drafted law could serve as a template for other countries exploring ways to regulate digital assets due to its innovative nature. The federal deputy added that:

“We debated a few years there to arrive at a text that recognizes this asset…which will be regulated by a government agency, because we will work with the Central Bank and the CVM, depending on how this asset will be recognized, such as real estate value or currency of daily use.”

Fighting Ponzi Schemes in the Brazil Crypto Space

Ribeiro also expressed his optimism about the potential advantages of this law in protecting citizens from Ponzi schemes in the crypto sector. Over the years, numerous Brazilians have fallen victims to several crypto scams, with the authorities claiming down on several promoters of alleged Ponzi schemes in 2021.

That said, digital assets remain an obscure sector in Brazil, and authorities have a limited scope in regulating crypto companies. Ribeiro stressed that with this law, the government intends to:

“Separate the wheat from the chaff, create regulations so that you can trade, know where you are buying, know who you are dealing with.”

Finally, the federal deputy revealed that the Law project had received support from the government and has gotten discussed with Arthur Lira, president of the Chamber of Deputies. Ribeiro believes that the law will get approved with time.


You can purchase crypto coins here: Buy Tokens

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.