The Bank of Brazil recognizes the Bitcoin and other cryptocurrencies – CRYPTO TREND

Although not officially recognized the Bitcoin as a financial instrument, either of receipt of value or of commercial exchanges, the reality is clear: the use of Bitcoin as a payment method in that country has made the central bank includes in the sector of means of payment used by the countrymen. The Committee of Statistics of the Balance of Payments, an advisory body on the methodology of statistics of the external sector to the department of statistics of the International Monetary Fund, has recommended to classify the purchase and sale of criptoactivos as produced assets, which means that is compiled in the account of the asset of the balance of payments. For its part, the mining activity is described in the same report, cryptographic as: “The mining activity of criptomonedas, now, therefore, be treated as a production process”. Under the premise that the sale and purchase of digital assets represent a currency swap, a derivative of a contract is consensual, the operations do not have the filter of the customs to keep a record for these operations to be digital, which means a superposition of a fact (the use of the criptoactivos) before the legal system. This express recognition by the Central Bank of Brazil is a gigantic step in the use of the criptomonedas in that south american country. In the past, as the transaction volume of Bitcoin exceeded the GDP of that country in a day, which means that its adoption is in constant growth. There is also a Bill under discussion that seeks to regularize the use of criptomonedas, but with a more liberal approach. This is not the case of Venezuela, for example, that I think a “criptomoneda” only used by the government of that country to purposes “informative and stabilizers” of the national economy, at the time that persecutes and imprisons those who are engaged in the mining or exchanging frequent criptomonedas but not before extorsionarlos. Already in Latin america is a positive fact basic aspects with respect to the criptoactivos, the use of technologies Blockchain to connect the Mercosur, the judgment of education offered by the CEO of BUDA.COM in chile, the implementation of technology Blockchain in Argentina, the implementation of a Criptomoneda in a municipality of the same country, among many other advances in Fintech, and Governments in Latin america are the right way of the adoption of the criptomonedas as a means of value or instrument of payment method. The following two tabs change content below. Advocate, enthusiast of new technologies, believing that Blockchain and Bitcoin will bring development to the mankind.

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