• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
<>
Sensei Inu Logo

Brazilian Bitcoin Regulation Not Needed Yet, Says Senate Report

newsbtc by newsbtc
9 years ago
in Uncategorized
Reading Time: 2 mins read

Brazilian Bitcoin Regulation: A new study looking at the economic impact of Bitcoin on behalf of Brazil’s Federal Senate has advised against the regulation of digital currencies – at least for now.

The 18 page report by Cesar Rodrigues van der Laan has been hailed by some digital currency enthusiasts for recommending a ‘Bitcoin friendly’ approach to regulation, but at the same time presents a generally pessimistic analysis of Bitcoin’s chances of future success within the Brazilian economy.

“Given their limited current range, especially in Brazil, we do not see systemic risk to the operation of the domestic economy,” the report reads.

In addition to advising the Senate to hold off on any new regulation until Bitcoin has spread further throughout the Brazilian economy, the report’s author also recommends that the country follow a ‘similar approach’ to the US treasury, whose stance on digital currency regulation is seen as being amongst the most friendly, as opposed to that of countries such as Russia which has cracked down on Bitcoin use with harsh criminal laws.

By suggesting a US inspired approach the report seems to endorse an April decision by the Receita Federal, Brazil’s tax authority, to treat digital currencies as financial assets for tax purposes.

Whilst the report’s willingness to allow Bitcoin some breathing space before being subject to regulation seems to based largely on the view that it will not gain widespread adoption within the country, it does seem more bullish on the currency’s popularity with international business and the chances of it achieving more widespread adoption as a mechanism for cross border payments. In this area, the report is clear that if current trends continue a strong regulatory framework will be required:

“If there were lessons of the recent financial crisis is the consensus that globalized financial systems need more and not less regulation. For these reasons, it is difficult to consider plausible the hypothesis sovereign currencies be replaced by unregulated virtual currencies and without legal support.” it reads.

Tags: brazilLatin AmericalegalNewsregulation
Tweet123Share196ShareSend
newsbtc

newsbtc

Related Posts

Bitcoin Price To Reach $170,000 in 2025 – Mathematical Model Predicts

Bitcoin Price To Reach $170,000 in 2025 – Mathematical Model Predicts

2 hours ago
Chainlink LINK price

LINK Price Primed For Meteoric Rise: Analyst Predicts 130% Rally To $18

4 hours ago
Cosmos Roadmap 2024 Ethereum

Cosmos Has A Grand Plan For 2024: Will It Crush Ethereum?

5 hours ago
FTX Sam Bankman-Fried trial

Court Rules Sam Bankman-Fried Will Remain In Jail Through Trial, Here’s Why

6 hours ago
MATIC

MATIC Price Downtrend Halted As Google Cloud Joins Polygon Network

7 hours ago
Bitcoin (BTC)

Bitcoin Eyes Turnaround: Could A New All-Time High Be On The Horizon? Analyst Predicts

9 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Bitcoin Spark: Cross-Chain with Polygon, BSC, and Cosmos

    15 hours ago
  • Explosive Surge: Curve DAO and Everlodge on a Wild Pumping...

    18 hours ago
  • The DeFi Big Three: Solana (SOL), Chainlink (LINK), and...

    18 hours ago
  • Plus 500 Reviews Get Moderate Risk Rating From Trading...

    19 hours ago
  • Comprehensive Analysis of the Interactive Brokers Platform

    1 day ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.