Brazilian lawmakers propose a draft aimed at making Bitcoin a legal payment currency.

According to reports, Brazilian legislators are working to establish a regulatory framework that will make investing in Bitcoin and other cryptocurrencies easier and be tougher on scammers and hackers. According to reports, Aureo Ribeiro, a representative of the Solidarity Party, proposed an updated draft bill to give Bitcoin the legal status of the country's "currency of payment." The bill is expected to be submitted to the House of Representatives for debate in the next few days. Previously, the Brazilian legislature recently approved the 2.303/15 draft bill to regulate digital currencies, and Ribeiro's bill will replace the draft bill.