Brazil introduces a law recognizing bitcoin as a means of payment

The Brazilian government will consider a law on accepting bitcoin and other cryptocurrencies as official payment methods at the state level. The bill was introduced by MP Paulo Martins last week.

According to Martins, the bill will complement the existing cryptocurrency laws in Brazil: «Cryptoassets with their own unit of measure should be used as a financial asset or medium of exchange, payment, tool for access to goods, services, and investments.»

The Brazilian authorities will consider the bill in the near future, as a recent survey by The Economist showed that more than 37% of respondents would support the government in declaring cryptocurrency an official method of payment.