Central Bank of Brazil Reports Brazilians Have Bought More Than $4 Billion in...
Brazilians have brought over $4 billion of cryptocurrencies to the country, according to numbers from the Central Bank of Brazil. The commercial asset balance report presented shows that Brazilians have consistently acquired over $350 million dollars of cryptocurrencies each month since January. However, according to some analysts from the central bank, this number has the potential to reach double its worth this year. Brazilians Purchase Millions Worth of Cryptocurrencies Every Month The Central Bank of Brazil released a report that shows Brazilians have purchased more than $4....
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Bitcoin is being widely adopted across the world, in developed countries like the United States and developing African countries alike. But Brazilians don't seem to be interested in jumping on to the bitcoin bandwagon. Surprisingly for a country which is the 5th largest when it comes to number of internet users, the adoption of bitcoins is very low, with less than 0.1% bitcoin wallet downloads. A number of reasons ranging from lack of knowledge to regulatory issues can be listed for slow adoption of bitcoin in Brazil. Language. With Portuguese being their native tongue, most Brazilians are....
Brazilian Minister defends IPO of federal digital bank created to aid population during pandemic Brazil's Minister of Economy, Paulo Guedes, said during an online event this Tuesday that Brazil "is about to" join the Organization for Economic Cooperation and Development (OECD) and that the Brazilian government has plans to launch a public offering of shares (IPO) for the newly-created digital bank of Caixa Econômica Federal.Caixa Econômica Federal created a digital bank during the pandemic to help the government send financial aid to around 64 million Brazilians. Guedes’ comments came....
The Central Bank of Brazil and Fenasbac, the National Federation of Associations of Central Bank Servers, decided to select nine projects to monitor and support their different proposals for the application of a hypothetical Brazilian central bank digital currency (CBDC), the digital real. Projects from companies and organizations like Aave, Banco Santander, and Mercado Bitcoin were selected to be developed as examples of how a digital real could be used.
LIFT Challenge Selects Nine Digital Real Projects
The LIFT challenge, an initiative organized by Fenasbac and the Central Bank....
The Brazilian Tax Authority RFB registered a new record in the number of Brazilians that invested in crypto, in the month of September. The institution informed through its monthly reports that almost 1.5 million people had purchased crypto during Sept. The number of crypto investors in Brazil increased since August when a little more than 1.3 million people declared holding crypto.
Brazilian Tax Authority Registers Almost 1.5 Million Crypto Investors in September
Cryptocurrency is gaining popularity as an investment choice for portfolios in Latam. The Brazilian Tax Authority RFB....
Taxpayers in Brazil have only a couple of days left to file their annual tax returns. Investors who had more than 5,000 reals worth of cryptocurrency in 2020, a little less than $1,000, are obliged to report the funds on their income tax declarations this year. Brazilians who fail to do that on time face hefty fines. Deadline for Tax Filing in Brazil Expires Midnight May 31 Brazilian citizens are required to file their 2021 income tax returns before June 1. This year, the deadline was extended by a month due to the coronavirus pandemic which took a heavy toll on South America’s....