Countries cryptocurrency While they were having difficulties in determining their approach towards their units, there was good news from Brazil.
The Brazilian House of Representatives approved the regulation legalizing the use of cryptocurrencies as a means of payment within the country and submitted it to the President for entry into force.
With the said law, cryptocurrencies and Bitcoin will not be able to reach the legal currency status in the country, but cryptocurrencies can be used in the purchase of goods and services. This legal regulation is considered important for the growth of the ecosystem.
While it is legal to buy and store cryptocurrencies in many countries, it is illegal to use them for the purchase of goods and services. One of these countries is Turkey. The Central Bank of the Republic of Turkey banned the use of cryptocurrencies as a means of payment with a regulation issued in April 2021.
This move by Brazil is described as a great support for the development of the sector in the country and cryptocurrencies.
Long swept away by bad news bitcoinIn , it reacted to this positive development and rose as high as $ 17162.
The fact that Bitcoin rose immediately in the first positive news shows that there is appetite in the market, but this needs to be supported by more positive news.
For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!