Earlier, a bill was approved to recognize May 22 as Bitcoin Pizza Day in the city of Porto Alegre, Brazil. Sebastiao Melo, the city’s mayor, is credited with passing the law in late August.

Twitter user @Akva556 he announced news following Wednesday’s press statement.

Councilors Jesse Sangalli and Alexandre Bobadra were responsible for drafting the bill after attending a local community Bitcoin Pizza Day event in 2022. Both were inspired by lectures they received that explained Bitcoin in detail.

Sangalli said the purpose of the official Bitcoin Pizza Day is to raise awareness of decentralized financial innovation in Porto Alegre, a city with a current population record of 1.5 million people.

Bitcoin Pizza Day was created when a BitcoinTalk forum user named Laszlo Hanyecz offered 10,000 Bitcoins for two pizzas on May 22nd.

That day is considered a watershed moment for crypto enthusiasts as it was the first time Bitcoin was actually used as a means of payment. One bitcoin was worth $0.0025 at the time, the value delivered in bitcoin cost a total of $41.

The progress of the blockchain industry in Brazil

Large Brazilian enterprises are gradually allowing clients to start using cryptocurrencies quickly and easily to diversify their assets, protect against inflation and reduce transaction costs as cryptocurrencies rapidly gain popularity in Brazil.

In August, Brazilian bank BTG Pactual launched own platform called “Mynt” for trading cryptocurrencies which has become available to the public.

Amber Group, also a start-up crypto-finance company he announced its intention to expand its retail business activities to Brazil through a retail platform called WhaleFin.

The world’s largest retail electronic payment network, Visa Inc., has begun operations integrating Bitcoin services with traditional banking systems in Brazil. Visa hopes to close the gap between cryptocurrencies and the current traditional financial system.

Image source: Shutterstock

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