Brazil Took Initiative To Legalize Local Crypto Market
On Tuesday, February 22, 2022, Brazil initiated a framework to legalize cryptocurrency in the local market. The initiative could be a milestone for the growth and development of digital cryptocurrencies in Brazil. The Brazilian Senate’s Economic Affairs Committee collectively passed a bill regarding crypto regulation, establishing a path of voting at Senate and after that […]
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Brazil is making strides toward the integration of Bitcoin into its economy. The National Congress has recently introduced a new measure that aims to enable employees to receive a portion of their salaries in cryptocurrency. Related Reading: Ethereum Needs A Leader—Or Its Future Could Be In Jeopardy, Ex-Engineer Warns Luiz Philippe, a former federal deputy […]
The first stop for Bitci’s international expansion, also a first for a Turkish crypto exchange, is Brazil. Turkish blockchain provider Bitci is seeking to establish local crypto exchanges in Brazil and Spain in a bid to lure local crypto investors.A Bitci spokesperson told Cointelegraph that Bitci is planning to open new crypto exchanges in the countries where the company has sizeable deals and assets, as Reuters reported. The first stop for Bitci’s international expansion, also a first for Turkish crypto exchanges in general, is Brazil. Bitci CEO Onur Altan Tan said in an interview that....
Volume of bitcoin trades in Brazil increased rapidly in Brazil since May. Over the last few months, the volume of all bitcoin trades have risen from US$1.65 million to US$2.6 million, showing a 158 percent monthly increase in trading volumes across all exchanges. In August, Mercado Bitcoin, the largest bitcoin exchange in Brazil alone has processed 28.48 percent of all market share or US$740,480 worth of bitcoin trades. Image via bitValor. According to BaseBit founder Daniel Novy, the majority of bitcoin-related news presented by major news outlets in Brazil is negative and affects the....
Aureo Ribeiro, a federal deputy in Brazil, stated that bitcoin might become a recognized currency in Brazil soon, during an interview with local media. The politician stated that Brazilians may be able to purchase houses, cars, and even fast food at McDonald’s with cryptocurrency in the near future. Bill 2.303/15, which regulates cryptocurrencies, might approve the legal use of the asset, similar to El Salvador.
Bitcoin Might Become Regulated Currency in Brazil
Bitcoin might become a regulated currency for payments in Brazil in the near future, according to statements....
Cryptocurrency payments haven’t garnered as much media attention as NFTs or DeFi – until now. As major players like MasterCard and AMC expand their crypto support and more governments consider making crypto legal tender, leading processing companies such as CoinsPaid are reporting record increases in transaction volumes. Hold, spend, or convert into fiat: the choice […]