News from Brazil on Nostr: Last year, a law that regulates crypto currencies was approved by Congress and ...
Last year, a law that regulates crypto currencies was approved by Congress and sanction by the president.
As every good law, it's vague, so it can be applied in every circumstance whenever convenient. The excuse for the law, is to protect people form scamers, that use the Bitcoin name to fool people and take their money (that is very common in Brazil, not only using the bitcoin name).
For some time, all exchanges with office in Brazil have to comply KYC standards. The end goal is to monitor transactions for tax collection. That what they really want!
One way to deal with that is using international exchanges, but than we need to use dollars and, in the end, fall for the same trap.
The other way is to use decentralized exchanges, but they are not user friendly for the average person.
A good thing though, our politicians don't truly understand bitcoin or any crypto, we might be able to navigate those waters.
That's why the development of decentralized platforms is so important. As they evolve, they get more reliable and known to the people. That's the way to achieve our freedom.
https://www.camara.leg.br/noticias/931195-entra-em-vigor-lei-que-regulamenta-setor-de-criptomoedas-no-brasil/
As every good law, it's vague, so it can be applied in every circumstance whenever convenient. The excuse for the law, is to protect people form scamers, that use the Bitcoin name to fool people and take their money (that is very common in Brazil, not only using the bitcoin name).
For some time, all exchanges with office in Brazil have to comply KYC standards. The end goal is to monitor transactions for tax collection. That what they really want!
One way to deal with that is using international exchanges, but than we need to use dollars and, in the end, fall for the same trap.
The other way is to use decentralized exchanges, but they are not user friendly for the average person.
A good thing though, our politicians don't truly understand bitcoin or any crypto, we might be able to navigate those waters.
That's why the development of decentralized platforms is so important. As they evolve, they get more reliable and known to the people. That's the way to achieve our freedom.
https://www.camara.leg.br/noticias/931195-entra-em-vigor-lei-que-regulamenta-setor-de-criptomoedas-no-brasil/