Russia to regulate crypto’s, Mexican senator wants Bitcoin to be legal tender and Brazil wants rules too
Crypto-regulation to come in Russia
The Russian Finance Ministry is moving ahead with its Bitcoin regulation proposal, and it has introduced a bill to parliament seeking to make digital currencies legal.
After debates between Putin, the opposition, the central bank and the ministries, one thing became clear: something needs to happen. The Bank of Russia urged for a crypto-ban, while all other parties prefer a regulation (and hence the option to tax the industry).
The Russian finance ministry now has announced that it had submitted a bill to parliament seeking to give Bitcoin legal clarity, for the first time in Russia.
Mexican senator proposes to make bitcoin a legal tender.
Amid El Salvador’s reporting on cases of the positive impact of the country’s Bitcoin (BTC) adoption, a government official in Mexico has once again urged that the country should follow El Salvador’s example on Bitcoin.
Indira Kempis, a senator representing Nuevo León state, is confident that Bitcoin should be legal tender in Mexico because Bitcoin adoption can potentially drive global financial inclusion.
“It is clear to me that financial exclusion is one of the public problems that few of us have addressed with feasible alternatives and that this type of technology is allowing us to generate an alternative so that millions of people can be included in the financial system.”
Important to keep in mind, is that Kempis doesn’t have a majority in the parliament at all, whereas Bukele almost has electoral superpowers.
Brazil takes first step to regulate Bitcoin
The Brazilian Senate’s Economic Affairs Committee (CAE) approved a bill on Tuesday to acknowledge and regulate the Bitcoin and cryptocurrency markets in the country, according to an official statement.
CAE’s unanimous approval of PL 3825/19 represents an initial step for a bill that attempts to create ground rules for the day-to-day usage of bitcoin in financial transactions and as an investment asset.
The bill also provisions tax incentives for the bitcoin mining industry. Also, cryptocurrency service providers will only be able to operate in the country after explicit authorization by the federal government.
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