While it’s still early to speculate if Brazil is following in El Salvador’s footsteps, the latest proposal demonstrates the country racing towards meaningfully regulating the crypto industry as adoption reaches a pivotal stage. The latest bill, presented by Federal Deputy Paulo Martins on June 10, seeks to add Bitcoin (BTC) and other cryptocurrencies as a...Read More
One of the most successful Brazilian soccer clubs – Sao Paulo – allowed its fans to purchase match tickets with cryptocurrencies, becoming the first team in the country to do so. Diving Deeper Into Crypto’s Universe The 22-time winner of Brazil’s top soccer league – Sao Paulo – teamed up with the cryptocurrency exchange Bitso...Read More
On May 30, Brazil’s new government blockchain network went live thanks to a cooperation agreement between the Court of Accounts of Uniam (TCU) and the Brazilian Development Bank (BNDES). The launch event was live-streamed on the official YouTube channel of the Court of Accounts of Uniam (TCU). The event’s focus was to discuss the technical...Read More
The University of São Paulo (USP) signed a cooperation agreement with Radio Caca (RACA) to study different educational applications within the United States of Mars metaverse by operating different virtual lands inside the metaverse. According to the official information shared by the University of São Paulo; its team will evaluate the technical, economic, and legal...Read More
On May 24, Mercado Bitcoin, the largest cryptocurrency and digital asset platform in Latin America, announced its partnership with the Stellar Development Foundation (SDF) to participate in the development of Brazil’s CBDC. According to an official post share by the Stellar Foundation, Mercado Bitcoin will work on one of the nine projects promoted by the...Read More
The Brazilian investment management company – XP Inc. – reportedly joined forces with Nasdaq to launch a cryptocurrency trading platform. Called XTAGE, it should go live by the end of June. Initially, it will enable investors to buy and sell bitcoin and ether. XP Thinks About the Next Five, Ten Years The latest organization to...Read More
São Paulo-based Nubank, Latin America’s largest digital bank, has signed a partnership deal with blockchain infrastructure platform Paxos to support cryptocurrency trading services within its banking app. Nubank Supports Direct Bitcoin and Ether Trading In a press release on Wednesday (May 11, 2022), Nubank said its customers will be able to buy, sell, and hold...Read More
This week lawmakers in Brazil pushed to advance a bill that would legalize and regulate cryptocurrency— the National Congress of Brazil’s House bill 4401/21. Senator Iraja Abreu, who sponsored a Senate version of the bill (Senate bill 3825/19), dropped his version in favor of the House bill, carrying some provisions over to 4401-21. Bom Trabalho! (That’s...Read More
A study conducted by the cryptocurrency exchange Gemini determined that approximately 41% of the surveyed individuals from Brazil and Indonesia own digital assets. The United States and the United Kingdom are far behind with respectively 20% and 18%. Brazil and Indonesia: the Global Leaders The US-based crypto platform Gemini questioned nearly 30,000 people across 20...Read More
Cryptocurrency adoption comes in different forms these days, but it seems that countries and cities are becoming more open to the idea of allowing certain payments to be made using such assets. Brazil’s second-largest city said it wants to become the first within the nation’s borders to accept BTC payments for taxes. The report from...Read More
The central bank of Brazil revealed on March 3rd that it has picked a total of nine projects to advance in its challenge to develop a central bank digital currency (CBDC). One of the projects is Aave. The LIFT Challenge The central bank of Brazil revealed the so-called LIFT Challenge where the current theme is...Read More
The largest e-commerce firm in Latin America – Mercado Libre – acquired shares in the 2TM Group (a parent company of the cryptocurrency platform Mercado Bitcoin). Separately, it made a “strategic investment” in another digital asset-oriented organization Paxos. Jumping into Crypto Once Again The leading Argentinean e-commerce platform Mercado Libre, which has displayed a pro-crypto...Read More
2TM Group, the parent company of Brazil’s largest cryptocurrency exchange Mercado Bitcoin, reportedly acquired a controlling stake in Portuguese-based digital asset trading venue CriptoLoja. Last year, the latter became the first platform in Portugal with an official license as a “virtual asset service provider.” Pushing into Europe According to a January 12 report by Reuters,...Read More
Johann Steynberg, a South African known for running the multi-million dollar Ponzi scam Mirror Trading International (MTI), was recently arrested in Brazil. This would be yet another large-scale arrest for the country. A few months ago, Claudio Oliveira of the Bitcoin Banco group was also put behind bars for the disappearance of 7,000 Bitcoin from...Read More
2TM Participacoes, the parent company of Brazil’s largest cryptocurrency exchange, Mercado Bitcoin, has recently raised $50 million from investors to further its expansion project. Crypto Service Expansion in LatAm According to a Tuesday report by Bloomberg, the company will use the funds to increase its product offering and expand its services to other Latin American...Read More
Cryptocurrencies are continuing to gain traction as a payment option by businesses and governments alike. Recently, Deputy Luizão Goulart of Brazil proposed a bill to allow public and private sector workers to be paid in bitcoin. If passed, this would be the biggest national move to support digital asset adoption since El Salvador’s legal tender...Read More
The major Brazilian bank – BTG Pactual – will enable its customers to trade digital assets directly through a new platform called Mynt. The offering will be available from the next quarter and will include the two leading cryptocurrencies – bitcoin and ether. The New Crypto Opportunity According to a local report, the initiative, which...Read More
A recent poll from Sherlock Communications has found that nearly half of Brazilians agree that Bitcoin should be adopted as the currency of the country, following in the footsteps of El Salvador. Brazilians Bullish for Bitcoin As reported by Valor Investe, the study shows 48% of Brazilians in support of Bitcoin as national currency (17%...Read More
The Brazilian Federal police exposed a local financial pyramid scheme and confiscated nearly $30 million in cryptocurrencies. The operation marked the largest seizure of digital assets in the history of Brazil. The New Record According to a report by CNN Brazil, the local authorities organized a special mission, called “Operation Kryptos,” to halt a fraudulent...Read More
Several months after greenlighting a Bitcoin ETF, Brazil’s watchdog has done the same for a product tracking the performance of the second-largest cryptocurrency – ETH. The fund will be managed by QR Asset Management. As local media reported, the CVM has given a nod of approval for the second cryptocurrency-oriented exchange-traded fund. The Ethereum ETF...Read More
Brazil seems to be close to putting the brakes on its race to boost the cryptocurrency industry. After pushing hard for the legality of digital asset trading, the recent nominee to lead the CVM (Brazil’s equivalent to the U.S SEC) said that the country must have greater control and vigilance over this type of operations....Read More
The Brazilian authorities have arrested the president of the Bitcoin Banco Group – Claudio Oliveira. According to them, he was responsible for swiping 7,000 bitcoins from customers worth $250 million today. ‘The Bitcoin King’ Got Busted In a recent online press release, the Brazilian officials reported the arrest of Claudio Oliveira. He was the man...Read More
Mercado Bitcoin, the largest crypto exchange in Brazil, has received a $200 million investment from the Japanese multinational conglomerate holding company, Softbank Group Corp, in a recently-concluded Series B funding. The Largest Series B Funding in LatAm According to a Thursday report, SoftBank made this investment through its Latin America Fund. Robert Dagnoni, the executive...Read More
Following the recent approval of QR Capital’s Bitcoin exchange-traded fund (ETF), the Brazillian company is looking to raise $90 million to buy the bitcoin needed before trading commences. Working Towards Acquiring Bitcoin QR Capital made history after Brazil’s Securities and Exchange Commission (CVM) approved its application for a Bitcoin ETF, becoming the first of such...Read More
It appears that 2021 is the year for Bitcoin ETF approvals as yet another exchange-traded fund tracking the performance of the first-ever cryptocurrency will emerge – this time, in Brazil. The country’s Securities and Exchange Commission (CVM) has given its blessing to QR Capital’s application, and the QBTC11 product will go live on the Sao...Read More
Despite being an underdeveloped region, Latin America sets an example for the whole world in terms of adoption, trading, and interest in cryptocurrencies. A recent survey revealed that more than 30% of Latinos are interested in investing in crypto, either to increase their wealth or at least to maintain its value in times of economic...Read More
If you have some Bitcoin in your wallet – and you live in Brazil – you can attack your country’s electoral infrastructure and bring the public institutions to their knees while people express their anguish as they wait for the results of a critical election to measure the leadership of the current president, deemed the...Read More
Two indigenous tribes from the northern region of Brazil have joined forces to create a cryptocurrency to save their future and have access to a decent income after a lack of attention from that country’s government. The two tribes are known for their with ancestral rivalries. Brazil’s President Jair Bolsonaro is known for his derogatory...Read More
U.S. authorities have just seized millions of dollars in crypto from one of Brazil’s biggest and most famous scams, ending one dark chapter in the history of crypto scams in the country. The joint initiative —started by the brazilian authorities— had the codename “Operation Egypt” (did you understand the reference?) and aimed to end a...Read More
While most cryptocurrency community members speculate when or if Bitcoin will ever top its all-time high against the dollar, the digital asset has already marked an ATH against other government-issued fiat currencies – the Brazilian Real and the Turkish Lira. Bitcoin Smashes Through BRL ATH The past several days have been significantly exciting for the...Read More
