Brazil opened a pathway to diversify its financial services after the central bank granted Mercado Bitcoin a payment provider license, allowing it to offer new digital banking solutions via MB Pay.
The experiment was conducted by digital currency exchange Mercado Bitcoin and Stellar protocol designed to promote low-cost and real-time settlement for users.
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.
2TM blames the dire global financial conditions and the lack of proper digital asset regulations for its underwhelming performance this year, which led the firm to give up some of its workers again.
Brazil is moving forward with its central bank digital currency plans, and in the latest move, it has picked nine firms to explore digital real possibilities, including the region’s largest digital currency exchange.
A Brazilian court has ruled that banks need justified reasons to shut down accounts, and merely trading in cryptos doesn’t count.
The bank had unsuccessfully tried to overturn a previous court ruling and was ordered to return around $350,000 to the exchange.
A court in Brazil has ruled in favor of Mercado Bitcoin, a local altcoin trading platform over the illegal closure of one of its checking accounts.