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Brazil: Adopted Bill recognising cryptocurrency as a means of payment

Policy overview

Description

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 te…

Scope

Policy Area
Authorisation, registration and licensing
Policy Instrument
Authorisation of goods or services
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
legislature
Government Body
parliament

Complete timeline of this policy change

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2022-06-10
under deliberation

On 10 June 2022, draft law No 1600/2022 was introduced in the Brazilian House of Representatives, w…

2022-11-29
adopted

On 29 November 2022, the Brazilian Congress passed Bill No 1600/2022 recognising cryptocurrency as …

2022-12-21
adopted

On 21 December 2022, Brazilian President Jair Bolsonaro endorsed the text for Law 14.478/22, which …

2023-06-19
in force

On 19 June 2023, Brazil's Law 14.478/22, which provides a regulatory framework for the cryptocurren…