To make paying taxes easier, a prominent Brazilian bank is now accepting cryptocurrency payments. Banco do Brasil, a major Brazilian financial institution said in a press release on February 11 that it has partnered with Bitfy. The latter is a cryptocurrency exchange established in Brazil. The duo plan to make
A growing number of industries and governments are beginning to use blockchain, a key component of cryptocurrency. Sao Paulo’s new municipal data and transparency law recognizes blockchain as a tool that may be utilized to facilitate government operations. In the law, blockchain is described as a distributed digital ledger that
As one of the first Brazilian organizations to use blockchain technology. Bradesco, a major financial institution in Brazil and Latin America, has joined the cryptocurrency revolution. On January 13, 2023, the bank said that, as part of a pilot study to evaluate the viability of these technologies. It has tokenized
Brazil’s President Jair Bolsonaro approved a crypto regulatory bill recently passed by the country’s Chamber of Deputies and Senate on Thursday. The bill will not permit the use cryptocurrencies like Bitcoin. Recently signed legislation includes numerous digital currencies as authorized payment methods. The new law establishes a crime of fraud involving
Leading cryptocurrency exchange platform Gleec BTC Exchange is seeking to expand in Latin America, beginning in Brazil where it recently acquired Blocktane’s operational assets. For a brief while, Blocktane ranked high in the Brazilian cryptocurrency industry. Gleec BTC Exchange took the initiative and announced today that it has purchased the
As the entire crypto industry is facing a hectic crisis, crypto adoption in Brazil is booming tremendously. In the past few months, the global crypto market crashed affecting millions of thousands of investors in the community. Surprisingly over 40,000 Brazilian companies are in the record of Federal Revenue Service for
Brazilian Chamber of Deputies passed the crypto bill to regulate the cryptocurrency sector in the largest South American country. Finally, after 5 months of voting dormancy, the regulatory body waved a green flag for bill 4401/21 on Tuesday evening. Bitcoin as Brazil Legal Tender? Originally, Aureo Riberio, a member of
The Brazilian cryptocurrency bill, which intends to govern the conduct of cryptocurrency exchanges and custody agents as well as define explicit cryptocurrency mining standards, will be on the agenda of the Chamber of Deputies next week. The bill, which was shelved before the general election on October 20, will be
Tether enables 24,000 ATMs around Brazil country to provide Tether USDT. As of 2021, around 34 million eligible population in Brazil are still unbanked. Tether USDT, the stablecoin functioning over the Tether blockchain platform has partnered with SmartPay. This partnership will enable 24,000 ATMs around Brazil country to provide Tether
In a recent advisory opinion paper, the Brazilian Securities and Exchange Commission (CVM) addresses the topic of crypto-based securities. In it, a lack of regulation is acknowledged, and cryptocurrencies are defined as digitally represented assets. Safeguarded by cryptographic technology, and transacted and stored by Distributed Ledger Technologies (DLT). Tokens that
