Brazil: Adopted Bill recognising cryptocurrency as a means of payment

On 29 November 2022, the Brazilian Congress passed Bill No 1600/2022 recognising cryptocurrency as a valid payment method under the supervision of the Brazilian Central Bank. In particular, the Bill provides that while crypto assets are not legal tender, they can be used as a financial asset, a means of exchange or payment, as well as an investment and a tool for accessing goods and services. The Bill will now be sent to the President to be signed into law.