This week, Brazil experienced a devastating cyberattack that hit the central banking system and caused enormous financial losses to several institutions. Hackers were able to hack C&M Software which is a vital service provider that links the Central Bank of Brazil to the local financial institutions. The hack resulted in
The executive chairman of Meliuz has announced that his fintech company has become the first publicly-traded Bitcoin Treasury company of Brazil. The company got shareholder approval, and it also purchased $28.4 million worth of Bitcoin. The chief executive officer of Meliuz, Israel Salemen, announced through X on May 15 that
Brazil is accelerating its cryptocurrency regulatory framework, positioning itself ahead of the United States. According to a report by The Defiant, the Central Bank of Brazil (BCB) has enforced strict rules to tackle stablecoin transfers to increase security and management. These rules limit the movement to self-custody wallets, particularly the
Brazil has recently launched its world’s first exchange-traded fund (ETF) to track the spot price of XRP. Valor Economico revealed through its press release that the major stock exchange of Brazil, B3, started trading funds on April 25. Hashdex is the manager of the ETF named Hashdex Nasdaq XRP Fundo
The BRICS economic bloc, comprising Brazil, Russia, India, China, and South Africa, is shifting increasingly towards cryptocurrency. As well as blockchain payment systems to facilitate cross-border trade. While the coalition is looking for ways to reduce the use of the US dollar for foreign trade, some of the member countries
Bybit has officially launched Bybit Pay in Brazil, integrating with Pix, the country’s popular instant payment system. This new solution enables users to make payments using both cryptocurrencies and Brazilian reais. With over 60 million users worldwide, Bybit aims to streamline crypto payments in everyday transactions, offering a flexible and
Brazil has banned Worldcoin (WLD) from offering cryptocurrency or financial incentives in exchange for biometric data. The National Data Protection Authority (ANPD) enforced the directive on January 25, following a detailed investigation that started in November 2024. The Brazilian DPA issued a temporary ban on Worldcoin's iris-scanning venture. pic.twitter.com/keYaZRgx98 —
Central Bank of Brazil Proposes Restrictions Brazil’s Central Bank (BCB) has proposed new rules that could change how people use stablecoins. The proposal suggests banning centralized crypto exchanges from letting users withdraw stablecoins, like Tether (USDT), to self-custody wallets. Users store their digital assets in these wallets instead of relying
Brazil’s Central Bank (Banco Central do Brasil) is advancing its Drex central bank digital currency (CBDC) project by integrating decentralized finance (DeFi) elements. Currently, the initiative is in its second pilot phase. It aims to enhance financial inclusion and improve transaction efficiency within Brazil’s evolving digital economy. The pilot program
The prohibition on Starlink and X Brazil has been removed by Justice Alexandre de Moraes of the Brazilian Supreme Court. Public displays of animosity between de Moraes and X owner Elon Musk have been going on for a while now. In Brazil, the firm encountered a brief snag that experts
