
Brazil’s digital real makes its debut on a public blockchain
The experiment was conducted by digital currency exchange Mercado Bitcoin and Stellar protocol designed to promote low-cost and real-time settlement for users.
The experiment was conducted by digital currency exchange Mercado Bitcoin and Stellar protocol designed to promote low-cost and real-time settlement for users.
A bill seeking to legalize virtual currencies has been signed into law and will take effect 180 days following the president’s approval, allowing Brazilians to make payments using digital assets.
So-called stablecoin Tether continues to spread its pervasive influence over a digital asset industry that is being increasingly embraced with wide arms and closed eyes across large parts of Latin America.
The CBDC launch is expected to promote financial inclusion, support existing payment systems and provide better risk control to help Brazil achieve its digital economy ambition.
Brazil is awaiting the signature of President Jair Bolosonaro, which would officially give power to a proposed bill expected to transform the country's digital asset sector.
Rio de Janeiro Mayor Eduardo Paes announced the initiative in March, saying it was the city’s attempt to attract the global digital asset community.
With help from their U.S. counterpart, Brazilian authorities busted a fraud ring allegedly behind transnational financial fraud schemes that prey on victims from at least 12 countries.
Said to be an attempt to put the missing puzzle on Mercado Bitcoin's alleged regulatory breach, Brazil mandates the local exchange firm to give details on issued tokens, including accumulated sales.
A rags to riches man was embroiled in an alleged Ponzi scheme, with investors accusing him of ripping them off worth billions of assets, which is suspected to have funded his extravagant lifestyle.
The so-called Bitcoin Pharaoh was arrested in August last year for defrauding over 27,000 Brazilians in a pyramid scheme that promised guaranteed 10% monthly returns.
The Brazilian CVM has ordered Bybit exchange to cease offering securities illegally, four months after it commenced operations, just as it banished Binance.
A regulatory framework that was approved by lawmakers in April and currently on the desk of the Office of President gives the Brazilian securities regulator a small role in the digital currency industry.