Brazilian President Signs Bill Regulating Use Of Bitcoin As Payment
By Namcios

Brazil's President Jair Bolsonaro has signed a bill into law that establishes a regulatory framework for the trading and use of bitcoin in the country.

The new rules recognize bitcoin as a digital representation of value that can be used as a means of payment and as an investment asset. The law goes into effect 180 days after it was signed and does not make bitcoin or any cryptocurrency a legal tender in the country.

The Central Bank of Brazil and the country's securities and exchange commission are expected to oversee the market, with the Central Bank overseeing bitcoin as payment and the securities commission overseeing it as an investment asset. The legislation encourages businesses to explore the use of bitcoin as a payment method, which could potentially lead to wider adoption of the cryptocurrency in Brazil.

🇵🇭 CoinCorner And Pouch

CoinCorner Partners With Pouch To Bring Instant Remittance Payments To The Philippines Utilizing Bitcoin's Lightning Network
By BtcCasey

CoinCorner, a U.K.-based cryptocurrency exchange, has partnered with Pouch, a Lightning service provider based in the Philippines, to bring instant remittance payments to the country using bitcoin's Lightning Network.

Through CoinCorner's Send Globally feature, customers in the UK and Europe can transfer funds to the Philippines by converting one fiat currency into bitcoin, which is then sent over the Lightning Network and converted into another fiat currency at the receiving end.

The partnership expands CoinCorner's Send Globally service, which was recently launched for users in Europe, the U.S. and the U.K. to send money to Ghana, Kenya and Nigeria, to the Philippines. Around $33 billion is sent home to the Philippines each year by workers in foreign countries, representing a significant portion of the country's GDP.

The Lightning Network allows for efficient, low-cost, and instant cross-border transactions.

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🏆 Bitcoin In 2022

2022 Was Bitcoin’s Year Of Differentiation
By Mickey Koss

In 2022, the use of bitcoin as a means of financial sovereignty gained attention due to events such as the Canadian Trucker Protest, in which protestors' bank accounts were frozen by the government, and the freezing of bank accounts of women in Iran who refused to wear hijabs.

These events, along with the collapse of altcoin companies and the questions raised about the legitimacy of bitcoin held by some exchanges, led to increased differentiation between bitcoin and other cryptocurrencies.

Some have argued that these events have sparked a trend towards self-custody of bitcoin, with people moving their coins off exchanges.

The author believes that this trend could be a turning point for bitcoin and that people are starting to understand the importance of self-custody and financial sovereignty.

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By @TheBitcoinConf

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