Brazilian Bitcoin Market Consolidates With Exchange Acquisition
Brazilian bitcoin exchange Foxbit has acquired payment processor BitInvest in an acquisition worth less than $1m. With the sale, the exchange said it is seeking to acquire new users and reinforce its position in Brazil’s nascent bitcoin market. Foxbit said BitInvest founder Flavio Pripas, the former founder of the social network Fashion.me, will serve on its board. All BitInvest accounts will be converted to Foxbit accounts as part of the deal. The acquisition is notable given the early traction seen by BitInvest, which inked a deal in 2014 with Tecnisa, a domestic real estate firm that....
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Finnish bitcoin broker Prasos has acquired Helsinki-based digital currency exchange Coinmotion for an undisclosed sum. The acquisition of the exchange by Prasos – which operates a different bitcoin exchange called Bittiraha.fi, as well as a bitcoin ATM network in Finland – follows a trend of exchange consolidation in the past year. While Prasos, which has headquarters in Jyväskylä, Finland, declined to disclose the buy price, it say the cash deal involved the purchase of the Coinmotion platform along with its customer base. While none of the exchange staff will stay with the firm through....
A Brazilian newspaper, Estadão, reported that Coinbase could complete the acquisition of $2.2 billion 2TM, the company behind Mercado Bitcoin, by April. Coinbase is set to continue its global acquisition strategy, reportedly buying the Brazilian company 2TM, the parent company of Mercado Bitcoin. According to information from Estadão, the third-largest newspaper read by Brazil’s 212 million populace, the Coinbase acquisition could be complete by next month. Negotiations for the purchase have been taking place over the course of 2022. Mercado Bitcoin is Latin America’s largest crypto....
A Brazilian judge has ruled that the CEO of Mirror Trading International should remain in precautionary detention as authorities in South Africa have already furnished their Brazilian counterparts with the documentation that is required for extradition purposes. The judge also rejected Johann Steynberg’s attempts to use his Brazilian family as the basis for seeking an end to his precautionary detention.
Documentation for Steynberg’s Formal Extradition
A Brazilian judge recently dismissed an application by Johann Steynberg — the mastermind behind Mirror....
The Brazilian Securities and Exchange Commission (CVM) has clarified the criteria by which different cryptocurrency assets can be considered securities. Through the issuance of a guidance opinion document, the CVM defines different classifications for existing cryptocurrency assets, specifies which can be viewed as securities, and explains how it will intervene in these markets. Brazilian Securities and Exchange Commission CVM Addresses Crypto Securities Classification The Brazilian Securities and Exchange Commission (CVM) has issued a new guidance opinion document that touches on the....
2021 was a year of affirmation for the Brazilian crypto market with good news in the national stock market, the promise of a CBDC and Brazilian soccer joining the game. Throughout 2021, the Brazilian cryptocurrency market managed to distance itself from the police pages and finally win acceptance with the general public, whether in the financial market or even in the greatest national passion: soccer.Last year, Bitcoin (BTC) acted as a strong alternative to the Brazilian real that ended 2021 by breaking negative records and reaching a devaluation of 6.5% by December, making it the 38th....