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Brazil has introduced a law recognizing bitcoin as a means of payment

The Brazilian government will consider the law on the adoption of bitcoin and other cryptocurrencies by official means of payment at the state level. The bill was introduced by MP Paulo Martins last week.

According to Martins, the bill will complement existing cryptocurrency laws in Brazil: “Cryptocurrencies with their own unit of measurement should be used as a financial asset or medium of exchange, payment, access to goods, services and investment.”

Brazilian authorities will consider the bill in the near future, because according to a recent survey by The Economist, more than 37% of respondents will support the government in declaring cryptocurrency the official method of payment.

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