Bitcoin Set To Become Legal Payment in Brazil

Brazil's Federal Deputy Aureo Ribeiro has revealed that Brazilians could soon be able to buy houses, cars and even McDonald's with Bitcoin. From a report: The South American nation is preparing to vote on a cryptocurrency regulation bill which is expected to be presented to the Plenary of the Chamber of Deputies within the next few days. "We want to separate the wheat from the chaff, create regulations so that you can trade, know where you're buying and know who you're dealing with," Ribeiro said. "With this asset you will be able to buy a house, a car, go to McDonald's to buy a hamburger -- it will be a currency in the country as it happened in other countries." Bill 2.303/15, which calls for the regulation of virtual currencies, was approved for presentation last week. If it gets the thumbs up from the Chamber of Deputies this week, then Brazil looks set to follow El Salvador's example and make Bitcoin legal tender. Further reading: In Brazil, Bitcoin Acceptance Comes With More Regulation.

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