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Brazil Crypto News

Coinxhigh now delivers the latest Crypto News from brazil, breaking Stories & Updates from the crypto world.

Binance and Mastercard Launch Crypto Prepaid Card in Brazil as Part of Latam Expansion

Leading crypto exchange Binance and credit card giant Mastercard have partnered to launch a prepaid crypto-linked card in Brazil as part of Binance’s expansion plans in Latam. The Binance card features 8% cashback for eligible purchases and supports on-the-fly conversion of 13 cryptocurrencies to make payments to local merchants.…

Opinion: Have Brazil’s Lula and Argentina’s Fernandez heard of cryptocurrency?

“Good ideas out of context are like shiny objects lost in a dark field,” American writer Seth Godin once said. “They catch your attention, but have no real utility.” Brazilian President Luiz Inácio Lula da Silva and Argentine President Alberto Fernández have been making headlines for a proposal to…

Panamanian Crypto Bill Might Get a Second Wind in the Highest Court of the Country

The fate of the Panamanian crypto bill project, which was approved by the Panamanian National Assembly last year, now depends on the decision of the supreme court of the country. The sanction of the project, which was vetoed by President Laurentino Cortizo, is now in the hands of the…

Mastercard, Binance to launch their second prepaid crypto card in Latin America

Credit card giant MasterCard has teamed up with the world’s largest crypto exchange Binance to launch another prepaid crypto card in Latin America. On Jan. 30, Binance announced the launch of the Binance Card in Brazil. The new card is issued by Dock, a payment institution regulated by the…

Sao Paolo Introduces Blockchain in Data Access Law

The Brazilian city of Sao Paolo has introduced the concept of blockchain in its municipal data access and transparency law. The concept of blockchain is defined as a technology that can be of use in this field, but the city has not defined the structures or the implementation for…

Latam Common Currency to Focus on Settlements Among Mercosur and BRICS Countries

President of Brazil Luis Inacio Lula Da Silva clarified the scope and reach of the common currency that Brazil and Argentina are studying to issue in Latam. Lula Da Silva clarified that he believed this currency would be used to settle cross-border payments between the two countries and also…

Elon Musk Praises Reports on Latam Common Digital Currency: ‘Probably a Good Idea’

Elon Musk, CEO of Twitter, SpaceX, and Tesla, has given his opinion about the latest reports on the creation of a common currency in Latam, to be initially worked on by Argentina and Brazil. Musk stated that this move would be “probably a good idea,” commenting on the topic…

Brazil and Argentina to Start Working on Creation of Latam Common Currency

Brazil and Argentina are looking to begin work on the issuance of a common currency. Sergio Massa, minister of the economy of Argentina, also stated that the two countries will be inviting other nations in the area to join this economic integration project in the future. Brazil and Argentina…

Brazil and Argentina explore a common currency

The CEO of Coinbase, Brian Armstrong, suggested that Brazil and Argentina should switch to Bitcoin (BTC) as their national currency as Brazil and Argentina were beginning preparatory work for a potential common currency. This sparked a variety of discussions over the viability of Bitcoin (BTC) as a national currency.…

Saudi Arabia Open to Trading in Currencies Other Than US Dollar, Signaling a Shift Toward De-Dollarization

After a 48-year relationship solely with the U.S. dollar, Saudi Arabia’s Finance Minister, Mohammed Al-Jadaan, said the kingdom is open to trading in currencies other than the U.S. dollar. The statements follow China’s president, Xi Jinping, urging the Gulf monarchs to accept yuan for oil, and Riyadh officials saying…

Sao Paolo Court Ruled Against Binance in User Withdrawal Related Case

A court in Sao Paolo, Brazil, ruled against Binance in a case in which the leading cryptocurrency exchange faced a withdrawal-related complaint. A user, who introduced a lawsuit against the exchange because he couldn’t retrieve his funds from the platform, received almost $2,000 in damages and the funds deposited…

Bradesco, One of Brazil’s Largest Banks, Launches Tokenized Credit Notes in Blockchain Pilot

Bradesco, one of the largest banks in Brazil and the third biggest in all of Latam, has entered the cryptocurrency world by issuing its first tokenized credit notes. The operation, carried out in partnership with Bolsa OTC, tokenized almost $2 million in bank credit notes, which were also distributed…

Brazilian Cryptocurrency Law Likely to Be Reviewed by Lula’s Government

The recently approved Brazilian cryptocurrency law will likely be reviewed and revised by the newly inaugurated government of Luis Inacio “Lula” Da Silva. According to statements made by the former rapporteur of the law, Expedito Netto, the new government will likely review the law to include some issues that…

Crypto makes history in 2022: Five instances of governments embracing digital assets

The year 2022 wasn’t the best one in terms of crypto reputation among regulators and policymakers. However, even amid the market breakdown and repetitive public attacks on the industry, some of the officials found the courage to embrace the innovation. Some of the names are not new, while others…

Brazilians using stablecoins to hedge against inflation

Brazilians are increasingly turning to stablecoins as their local currency, Brazil Real (BRL), slides against the USD due to rising inflation. Brazilians adopting stablecoins Recent market data shows that stablecoins account for about 50% of Brazilian Real (BRL) volumes while five percent involve the USD. This development presents an…

Brazilian Securities Commission CVM Opens a Path for Funds to Invest in Crypto

The Brazilian Securities Commission CVM has cleared the path for funds to dive into cryptocurrency-based investments. The institution issued a new set of rules that allows financial investment funds to invest in cryptocurrency tokens with the equivalent protections offered to other investment assets such as stocks and bonds, opening…

The 5 most important regulatory developments for crypto in 2022

2022 will surely be remembered as a year of crypto discontent — one when the price of Bitcoin crashed three times, many large companies went bankrupt and the industry experienced a series of significant lay-offs. However, it was a crucial year for crypto regulation worldwide. Although some regulatory developments…

President of Brazil Sanctions Cryptocurrency Law

President Jair Bolsonaro has approved law 14.478, which regulates cryptocurrency-related operations and virtual asset service providers (VASPs) in Brazil. The document, approved on the last day of the period allowed, will begin to be applied 180 days after its sanction. This will give all parties a period to adapt…

Brazil legalizes crypto as payment option

Brazil approves bitcoin and other cryptocurrencies as means of payment and prepares the ground for licensing crypto companies. According to the Brazilian federal government’s official journal, Brazilian president Jair Bolsonaro approved a bill into law on Dec. 23. President Bolsonaro implemented the legislation passed by Congress without any changes.…

The driving forces behind crypto adoption in Latin America in 2022

Inflation, cross-border payments, assets tokenization and nonfungible tokens (NFTs) were among the major drivers for crypto adoption across Latin America in 2022, sources in the region told Cointelegraph, with exciting examples of progress across many countries.  Latin America made up 9.1% of the global crypto value received in 2022,…

Brazilian president signs crypto bill into law

Jair Bolsonaro, the President of Brazil set to leave office on Dec. 31, has signed off on a bill aimed at legalizing the use of crypto as a payment method within the country. In a Dec. 22 publication of the official journal of the federal government of Brazil, Bolsonaro’s…

Still bullish: 40% of survey respondents plan to buy crypto in 2023

Despite the gloom of the ongoing cryptocurrency winter, coupled with failures of crypto giants like FTX, the community appears to remain bullish about crypto, according to a new survey. Crypto markets saw a massive sell-off in 2022, with the total market cap plummeting nearly 70% since Bitcoin (BTC) reached…

Brazil Could Launch Its Defi-Integrated Digital Real in 2024

Roberto Campos Neto, president of the Central Bank of Brazil, has stated that the digital real project, the Brazilian central bank digital currency (CBDC) could be launched in 2024. Campos Neto also remarked on the benefits the digital currency system might bring as it is integrated with traditional finance…

Crypto.com continues its worldwide registration push with Brazilian EMI license

Crypto.com has received a Payment Institution License (EMI) from Banco Central do Brasil, the central bank of Brazil. The license will allow it to “continue offering regulated fiat wallet services for customers in Brazil,” according to an announcement on the company’s website. Crypto.com has offered a Visa card in Brazil…

Brazil central bank launching CBDC in 2024

The central bank of Brazil, through its president, Roberto Campos Neto on Tuesday revealed that they will launch a central bank-backed digital currency (CBDC) by 2024. Accordingly, they will launch a pilot program in partnership with other major banks in the country next year. While speaking at an event,…

Brazil could cement its status as an economic leader thanks to 2024 CBDC move

As of 2022, more than 30 million Brazillian citizens have no bank accounts, and no credit or debit cards. What’s wrong here? For roughly a decade, Brazil has been passing legislation aimed at changing the situation. However, the results have fallen short of expectations. To better understand the reason,…

Brazilian Fintech firm in talks with Meta to process WhatsApp payments

MercadoLibre, an e-commerce retailer and fintech in Latin America, has initiated talks with Meta to process payments for its WhatsApp messaging service, which will kick-start in Brazil.  Earlier, Pedro Arnt, the company’s chief financial officer, while reacting to Mark Zuckerberg’s statements on allowing WhatsApp users to message and buy…

Texas enforcers want Sam Bankman-Fried to attend the hearing in February: Law Decoded

Welcome to Law Decoded, your weekly digest of all the major developments in the field of regulation. There was some substantial good news for crypto last week, but the prevailing storyline is still the unfolding of FTX. While the extradition of the failed exchange’s founder Sam Bankman-Fried seemed pretty…

Brazilian crypto industry gets regulatory clarity amid global uncertainty

As the global crypto community is still licking its wounds from the FTX collapse, a liquidity crisis continues to spread around centralized exchanges and decentralized finance (DeFi) alike.  It is soon to be decided whether the coming regulation triggered by FTX’s bankruptcy will bring a silver lining to crypto.…

Cryptocurrency Law Approved in Brazil — Green Mining Tax Exemptions and Asset Segregation Issues Left Out

A cryptocurrency law, which had been in discussion for several months, has been approved by the Chamber of Deputies in Brazil after having shed some of the changes presented by the Senate. The proposal left out two planned tax exemptions for green mining operations and the issue of segregating…

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