Brazil Considers Cryptocurrency Legalization Bill

A landmark event in the history of the cryptosphere was the legalization of Bitcoin in El Salvador. Law recognizing BTClegal tender entered into force in this country at the beginning of September.

Then it became known about Uruguay’s plans to develop a regulatory framework for the cryptosphere. Now another Latin American country, Brazil, wants to move in the same direction.

The Brazilian House of Representatives is discussing a draft law to regulate cryptocurrency in the country, which has been in development since 2015.

Last week, a special committee of the HouseMPs Câmara dos Deputados approved a bill according to which virtual asset service providers operating in the country will have to register with a government agency.

The bill also provides a clearer definitioncryptocurrency and, according to local media, aims to combat digital asset crime. The document provides for heavy fines and imprisonment for those who use cryptocurrency to launder money.

The bill increases the penalty for money laundering from the previous 33% to 66%, respectively, individuals and groups caught laundering money through cryptocurrency will have to return two-thirds of the amount.

With regard to imprisonment, at presentWhile the punishment for money laundering provides for from three to ten years in prison, but the updated rules increase it to a minimum of four years and a maximum of 16 years and eight months.

The new proposal has been submitted to the plenary session of the chamber, and if it is approved, the discussion will continue in the Senate. If adopted, the document will pass to the president.

Where is it more profitable to buy cryptocurrency? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.4
3	Exmo	https://exmo.me	6.9
4	OKEx	https://okex.com	6.5
5	Bybit	https://bybit.com	6.3

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Additional features and services— futures, options, staking, NFT marketplace.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• final grade– the average number of points for all indicators determines the place in the ranking.

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