A new proposal has been submitted to the Brazilian Congress to remove duties on the import of ASIC miners into the country and taxes on mining bitcoin using renewable energy sources.
Brazilian media Seudinheiro
informL othat the new proposal could lower barriers to cryptocurrencies in South American countries. In addition, Congress has been encouraged to view cryptocurrencies as money and not commodities. Bitcoin is now considered a commodity – like oil, coffee and iron ore.
If the proposal is approved, cryptocurrency exchanges will be able to issue loans and provide financial services to customers. According to the CEO of Arthur Mining, Ray Nasser (Ray Nasser), if the authorities waive taxes on mining, Brazil will become the “Mecca of mining”. This is only possible if cryptocurrencies are accepted.
In addition, the Central Bank of Brazil will be able to issue the digital currency of the central bank, ahead of many countries. Taynaah Reis, CEO of Brazilian finance company Moeda, said:
“The popularity of cryptocurrencies in Brazil is growing, and the regulators are very active in this, encouraging residents to engage in mining.”
In addition, she noted that miners must be officially registered in order for the authorities to analyze the mining processes. Now Brazil has difficulties with energy supply, so the optimal solution to the problem is capacity rationing. This is a process where less populated parts of the country receive less electricity. This helps keep the system stable.
The fact that cryptocurrencies are gaining popularity in the country is confirmed by a recent proposal by politician Luizão Goulart to pay workers salaries in cryptocurrencies. He brought up for discussion a new bill, according to which employees will be able to receive a salary in cryptocurrency, subject to the mutual consent of the employee and the employer.
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