Brazilians have spent more money than ever buying cryptoassets this year – and in May shattered previous spending records by shelling out a combined USD 912 million on coins. Per the media outlet Portal de Bitcoin, the data was released by the nation’s Central Bank, which is yet to compile and release figures for June,…
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Brazilian markets regulator says it wants to play a leading role in regulating crypto – in a move that could derail parliamentarians’ own attempts to regulate the sector. Per the financial arm of the newspaper giant Globo, the Brazilian Securities and Exchange Commission, known locally as the CVM, has ditched its laissez-faire attitude to crypto…
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Resistant to overseeing the space in the past, the agency said it now plans to work on the definition of virtual assets. The Brazilian Securities and Exchange Commission is reportedly pursuing changes in the country’s legal framework with regard to its regulation of cryptocurrencies. According to local media, one major concern is that the bill…
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Mercado Bitcoin, one of the biggest Brazilian cryptocurrency exchanges, has announced a new wave of layoffs amidst a worsening global economic situation for fintech startups, which the exchange states is affecting innovation-based companies. The exchange laid off 15% of its workforce on September 1st, this being the second round of layoffs the company has executed…
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Crypto adoption is on the march in Brazil, where the nation’s Central Bank has commissioned a commercial banking giant to build a DeFi solution for its prototype central bank digital currency (CBDC). Meanwhile, across the border in Argentina, a city says that it will accept tax payments made using USD-pegged stablecoins – while the capital…
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Itau Unibanco, one of the biggest bank conglomerates in Brazil, has been selected by the country’s central bank to develop a system with a stablecoin pegged to the value of the Brazilian real. Itau’s system was one of the eight proposals selected by the Central Bank of Brazil as part of LIFT Lab, an annual…
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Rico, a Brazilian brokerage platform part of XP Inc., has announced it plans to enter the cryptocurrency market next year. The division is expanding its operations and will also enter the banking sector, launching digital account services and a credit card. The platform follows in the steps of companies like Nubank and others that have…
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The Argentinian crypto firm Ripio has unveiled a Visa card in Brazil that lets its users pay in crypto – and receive bitcoin (BTC) cashback rewards. The card is a prepaid debit card that can be used with any merchant who accepts Visa payments. The card will be compatible with all 28 of the tokens…
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Moody’s, the asset quality rating agency, has warned the high rate of inflation that some countries are facing in Latam will affect the economic recovery in the region. Brazil, Chile, and Mexico are said to be the countries more affected by this phenomenon, and their recovery will depend on other factors to attenuate the effects…
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The Brazilian Senate wants to recruit experts with advanced knowledge of cryptoassets and blockchain technology – likely in a bid to help it better form legislation for the nation’s fledgeling crypto industry…. Read More: Brazil’s Senate Seeking to Hire Crypto and Blockchain Experts to Advise It on Policy Read more »Sign up for e-EUR –…
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