Tag Archives: brazil

The President of Brazil – Luiz Inácio Lula da Silva, simply known as Lula – assigned the country’s central bank to supervise the local cryptocurrency sector. The legislation that comes into force on June 20 will give the financial institution jurisdiction to determine which firms can operate in the local market.  The bank will also cooperate with Brazil’s Securities and Exchange Commission (the Comissão de Valores Mobiliários, or CVM) to oversee coins deemed as securities. ...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up A group of business owners have gathered in Brazil to create a new economic center to accept bitcoin as a form of payment. Bitcoin Is Getting Bigger in Brazil Known as the Praia Bitcoin project, the engagement is designed to set a world record for peer-to-peer transactions on the Lightning Network, which as we...

BTG Pactual – one of Latin America’s largest investment banks – will reportedly launch its own stablecoin, whose value will be tied to the American dollar.  The corporation joined the industry years ago by issuing a security token called ReitBZ and introducing a cryptocurrency exchange in Brazil. The Latest Push According to Reuters, Banco BTG Pactual S.A. (better known as BTG Pactual) will strengthen its presence in the digital asset sector by designing a stablecoin called...

The professional Brazilian soccer players – Gustavo Scarpa, Mayke Rocha de Oliveira, and Willian Bigode – have reportedly lost over $5 million due to investing in an alleged fraudulent cryptocurrency firm called Xland. The company said it did not run a pyramid scheme and promised to reimburse the victims. Athletes Have Fallen Victims Scarpa – Brazilian soccer player who plays for Premier League club Nottingham Forest – and Mayke Rocha de Oliveira (better known as Mayke) – who...

Top crypto exchange Binance has joined hands with credit card company Mastercard to form a new prepaid bitcoin rewards program for users in Brazil. Customers can now purchase everyday items and services with digital assets. Binance and Mastercard… The Perfect Match? The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved. What many people likely forget is that while bitcoin and many of its crypto cousins have taken on either...

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...

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...

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...

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,...

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...