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Tag Archives: brazil

Binance Taps Mastercard to Introduce Crypto Prepaid Card in Brazil (Report)

The world’s largest cryptocurrency exchange – Binance – joined forces with the multinational financial services giant – Mastercard – to launch a prepaid card in Brazil.  The partners previously rolled out such a feature in Argentina. As reported by Reuters today (January 30), the Binance card is still in beta testing and should be available to users in the following weeks.  It comes as a result of the exchange’s goal to “broaden the connection between traditional finance and...

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Brazilian President Signs Off on National Crypto Rules

President Jair Bolsonaro of Brazil has approved a bill of crypto industry regulations most recently passed by the nation’s Senate and Chamber of Deputies. The bill, signed into law on Thursday, will take effect in 180 days, by which time crypto companies in the region must adapt to the new rules.  Having passed through Parliament in late November, the bill would make it possible for crypto firms to register in the country and establish physical offices. These include firms...

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Crypto.com Received a Payment Institution License (EMI) in Brazil

The cryptocurrency exchange Crypto.com obtained a Payment Institution License (EMI) from the Central Bank of Brazil.  The authorization will allow the firm to continue offering digital asset products and services to residents of the South American country. Getting a Nod From Brazil In a recent announcement, Kris Marszalek – CEO of Crypto.com – said the company is “incredibly proud” to secure an EMI license from Banco do Brasil. The greenlight enables it to provide services to...

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Nubank in Brazil Is Releasing Its Own Crypto Token

Brazilian bank Nubank – an institution that has garnered the respect and support of billionaires like Warren Buffett – is releasing its very own digital currency, making it the first major banking institution in the traditional arena to do so. Nubank Has a New Cryptocurrency It’s Releasing The token – which is set to be called “Nucoin” – will be available sometime during the first few months of 2023. The bank has not given a specific release date yet. The asset is,...

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Brazil Police Busted the ‘Bitcoin Sheikh’ for Stealing Over $766 Million (Report)

Brazil’s Federal Police reportedly halted the operations of a criminal gang led by the businessman Francisco Valdevino da Silva, a.k.a “Bitcoin Sheikh.” The authorities claimed that the wrongdoers defrauded thousands of people in the past few years and laundered up to 4 billion Brazilian reals ($766 million). Another Crypto Ponzi Scheme in Brazil GloboNews revealed that Brazilian law enforcement agents raided the address of da Silva and many of his partners on suspicion that...

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Brazil’s ‘Bitcoin Pharaoh’ Ordered to Reimburse Conned Investors With $3.7B (Report)

The Brazilian authorities reportedly ordered Glaidson Acácio dos Santos (known as “Bitcoin Pharaoh”) to deposit 19 billion BRL (nearly $3.7 billion) in court. This sum will be transferred to more than 122,000 investors and creditors who have become victims of his fraudulent cryptocurrency scheme. Last year, the Brazilian Federal police organized a special mission called “Operation Kryptos,” following which they halted Santos’ illegal activities. In addition, they confiscated...

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Bybit Responds After Brazil Watchdogs Bars the Exchange From Brokering Securities

Singapore-based cryptocurrency exchange Bybit said it is taking necessary steps to ensure that it understands the requirements of the Securities and Exchange Commission of Brazil (CVM) with respect to its services. The Brazilian watchdogs had banned Bybit from brokering securities. The CVM released a declaratory act earlier this week that ordered the suspension of the crypto platform’s security offerings and intermediation services directly or indirectly via websites,...

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Former Brazilian Economy Minister Joins Binance’s Advisory Board (Report)

Despite the ongoing bear market, the world’s largest cryptocurrency exchange – Binance – continues to expand its team. Henrique Meirelles, who served as Brazilian Central Bank President and Economy Minister of the country, reportedly joined the platform as an adviser. Contrary to Binance, which went on a hiring spree during the crypto winter, many of its rivals dismissed a chunk of their staff in the past few months. Such examples are CryptoCom, Coinbase, Bybit, Gemini, and...

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Brazil’s XP Inc Opens Its Doors to Crypto Trading

XP Inc – a brokerage firm in Brazil – is allowing its clients to invest in digital currencies, suggesting that despite prices crashing in recent months, these new assets are still as popular and as sought after as ever. At the time of writing, the company will purely offer access to both bitcoin and Ethereum, though executives say they have every intention of expanding their listings by the end of the year. XP Inc Is Allowing Users to Trade Crypto Lucas Rabechini – the...

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E-commerce Giant MercadoLibre Launches its Own Cryptocurrency MercadoCoin in Brazil

On August 18, MercadoLibre Inc, a multinational e-commerce company based in Latin America, announced the creation of a new cryptocurrency called MercadoCoin, which will be implemented in its loyalty program. As reported by Reuters, the cryptocurrency will run on the Ethereum network as an ERC-20 token priced at $0.10 each. It will be used primarily for cashback and purchases inside MercadoLibre’s platform. The developer team also hinted at opening the token to the secondary...

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