Brazil's president has signed a bill regulating the use of bit | Easy Crypto Blog

Brazil's president has signed a bill regulating the use of bitcoin as payment

The new regulations, according to the law passed, recognize bitcoin as a digital representation of value that can be used as a means of payment and investment asset in Brazil.

But all is not well. The Brazilian Central Bank will oversee the use of bitcoin as a means of payment. And it is unlikely that the regulator will encourage the widespread use of bitcoin.

The head of the Central Bank of Brazil has repeatedly noted that he does not consider bitcoin as a means of payment. Of course, because of the volatility of the asset. In addition, the Central Bank of Brazil is actively working on issuing its own digital currency.