Brazil could eliminate presidential reelection starting in the 2030 elections if a Senate bill seeking constitutional reform on this matter is approved.

The Brazilian Senate proposes ending the reelection of presidents, governors, and mayors to consecutive terms, in addition to “extending terms from four to five years.”

The text of the bill, released last Wednesday, was approved by the Constitution and Justice Committee, which will submit it to the full Senate. If approved, it will be sent to the Chamber of Deputies for final discussion.

“According to the proposal, in the case of the Presidency, the end of reelection would begin to apply starting with the 2030 elections, so the president elected that year would no longer be able to seek another consecutive term.”

Regarding the extension of the presidential, gubernatorial, and mayoral terms to five years, the measure would take effect in 2034. Thus, those elected to these positions would take office in 2035 and serve until 2040, with no immediate reelection possible.

M.Pino

Source: diariolibre

(Reference image: Chris Boland on Unsplash)

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La entrada Brazilian Senate launches bill to eliminate presidential reelection apareció primero en Bitfinance.

Panama advances on its way to regulate the use of cryptocurrencies in the country. The Legislative Assembly approved the cryptocurrency bill, which regulates the “commercialization and use of crypto assets, the issuance of digital value, the tokenization of precious metals and other assets, payment systems and other provisions.”

The next step is for the president of the country to endorse and authorize the execution of the law so that it comes into force and citizens can purchase their goods and services daily, if they wish, with cryptocurrencies.

Deputy Gabriel Silva stressed that with the entry into force of the law, it will allow the “Central American country to become a center of innovation and technology in Latin America.” He also pointed out that 50 % of the population is not banked and the cryptocurrency law will help them to write off their assets.

Payment of taxes with cryptocurrencies

The Panamanian cryptocurrency law differs mainly from the one approved in El Salvador because in Panama the acceptance of crypto depends on the desire of the merchant, while in El Salvador the law maintains that “a business must accept Bitcoin if it has the technological means to do so”.

“Today I can go pay something to a merchant, and if the merchant wants to accept crypto, it is allowed, it is legal. Until today, that did not exist in Panama, we are making it a reality,” Silva said.

On the other hand, the bill approved by the Assembly contemplates that you validate as a form of payment “for any civil or commercial legal operation, including the payment of taxes, fees and rights to the government.”

The cryptocurrencies contemplated by the law as a form of payment are: bitcoin, ethereum, XRP, Algorand, Stellar and others that will be published soon.

M. Rodríguez

Source: decrypt.co

La entrada Legislative Assembly of Panama sanctions cryptocurrency law apareció primero en Bitfinance.

The main Bank of Spain published on its official website the forms and requirements that must be met by new providers, individuals and legal entities who wish to offer cryptocurrency services for their registration in accordance with the provisions of law 10 / 2010 on April 28 on money laundering and terrorist financing.

All persons, legal and natural, will have to grant the bank a “manual for the prevention of money laundering and terrorist financing“, where they will explain in detail to their clients, “the internal flows of their information“, as well as the guidelines to follow and the “precise instructions on how to proceed in case they may be related to illegal activities”.

Additionally, the bank is demanding an “suitability assessment” form for both the requesting legal entities and for each of the individuals who will be effectively managing the requesting entity, which must be signed by each member.

In order to effectively manage these requirements, the Bank of Spain established that individuals can deliver the required documentation by post and in person at the processing mailbox. While the legal ones can carry out their procedure through the electronic registry of the financial institution with all the data and the required documentation.

Risk control

For its part, the bank will submit to evaluation the different business methods presented, their systems or channels that the provider uses for income, as well as the “customer typologies and geographical areas where the provider offers its services, specifying the one with the highest risk.”

Once the documentation has been delivered for registration, the financial institution will take 90 days to review all the documentation presented and “resolve from the replacement and registration of the company.”

In that period, the bank has the power to verify compliance with the established parameters and in those cases that do not comply with the provisions of the regulations or require any other information or document from the supplier, it will proceed to freeze the procedure until obtaining the additional document from the supplier of the cryptocurrency service.

M. Rodríguez

Source: cointelegraph

La entrada Banck of Spain publishes registration requirements for cryptocurrency providers apareció primero en Bitfinance.

On September 7, bitcoin comes into force as legal tender in El Salvador and from that moment the citizens of that country will have the possibility of carrying out different transactions with BTC, such as sending remittances, exchanging cryptocurrencies for fiat money through the so-called wallet Chivo, created by the State for the use of digital currency.

Nayib Bukele, President of El Salvador, used his social network Twitter to recall the advantages of handling bitcoin, emphasizing that the use of crypto is optional, that is, “no one is obliged to carry out operations with the cryptocurrency if they do not wish to.”

The president noted: “This will be what will happen on September 7: People will be able to download an application to receive payments or gifts in bitcoin or dollars. If they want they will download it and if they don’t want to, they will not do it. With it they will receive $ 30 equivalent in bitcoin for consumption. If you want, if not, you do not download it… With this application you can accept payments in bitcoin or dollars, open a small business and manage it from there, receive money from family or friends and send and receive remittances without paying a single cent of commission to anyone. If they want, if not, then they don’t download anything and that’s it”.

Preparing the infrastructure

The president also made reference to the work that the state has been developing in the conditioning of all the infrastructure necessary to use bitcoin in the country.

He also highlighted that “physical points and Chivo ATMs are being built so that the inhabitants can exchange their BTC funds for fiat money and vice versa. According to Bukele, the income received in crypto can be kept in the electronic wallet or converted into dollars and withdrawn at any of the 200 Chivo ATMs that will be in various places operating 24 hours a day.

Additionally, the Chivo points will be working, which aim to explain to the inhabitants how the Chivo application and bitcoin trade work. As well as “withdrawing or depositing money, how to use ATMs and how to receive money from anywhere in the world” without having to pay any commission.

M. Rodríguez

Source: diariobitcoin.com

La entrada Bukele officially launches the Chivo wallet for bitcoin apareció primero en Bitfinance.

Iranian President Hassan Rouhani emphasized the need to legalize cryptocurrency activities to preserve and protect national interests, during the meeting with his cabinet’s Economic Coordination Board, clarifying that crypto mining remains prohibited until late summer.

For the president of the Islamic republic, it is essential that the nation considers the technical and legal requirements related to cryptocurrencies and digital currencies, understanding the risks involved in cryptocurrency trading. In his opinion, the conscience of citizens in this area is very important to avoid unprofessional income.

Rouhani believes that to legalize the activity of cryptocurrencies and protect people’s capital, it is necessary to “think of a solution as soon as possible and establish and communicate the necessary laws and instructions.”

As will be recalled last month, Iran announced, through the Ministry of Energy, that crypto mining with domestic electricity is illegal, for which all those domestic miners who are discovered will be sanctioned with heavy fines. “The Ministries of Communications and Information Technology and Energy are in charge of cutting off the electricity supply to these centers.”

The measure of prohibition of cryptocurrency mining throughout the territory will meet the needs of the increase in domestic electricity consumption during hot summers in the country.

M. Rodríguez

Fuente: cointelegraph

La entrada Iran calls for regulatory framework for crypto transactions apareció primero en Bitfinance.