Brazil

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Latin American Countries Eye Bitcoin Adoption After El Salvador Passed Bitcoin Law

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A number of lawmakers in Latin American countries have expressed their interest in bitcoin following El Salvador passing the law making the cryptocurrency legal tender. The countries include Paraguay, Argentina, Panama, Brazil, and Mexico. Tonga and Tanzania have also reportedly expressed interest in bitcoin. More Countries Eye Bitcoin Adoption After El Salvador passed the bill … Read more

Home Crypto Mining Spikes in Brazil Amid Record High Unemployment

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With rising unemployment rates and rampant economic uncertainty, in the wake of the Covid crisis, a growing number of Brazilians are finding an alternative income source in cryptocurrency mining. GPU rigs have been spotted even in favelas as a relatively small investment can return more than the average salary in Brazil. Pandemic and Uncertainty Turn … Read more

Brazilians Who Held $1,000 in Crypto Last Year Must Report It on Tax Returns by End of May

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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 … Read more

‘Chinese Invented Paper Money and They Will End It’- Brazil’s Far-Left Praises Digital Yuan  

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Digital currencies, those issued by central banks in particular, have been commended for their “disruptive nature.” The praise comes from a publication associated with one of Brazil’s far-left parties. A recently published article claims that CBDCs such as China’s digital yuan can radically change global finances and government policies. Digital Yuan to Do Away With … Read more

Brazilians Can Now Bet on President Bolsonaro’s Reelection Bid on FTX

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Crypto derivatives exchange FTX has launched a futures contract that allows Brazilian voters and traders in jurisdictions where the platform is available to bet on the outcome of Brazil’s next presidential election. With health and financial crises looming in the country, Jair Bolsonaro’s second term as head of state is far from certain. FTX Launches … Read more

Bank of Brazil Becomes the First State-Backed Bank to Allow Customers Exposure to a Crypto ETF

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Brazil’s first crypto ETF debut is postponed, but not because plans have failed whatsoever. The Bank of Brazil (Banco do Brasil) is now joining the bandwagon of ETF issuances, following the same steps as Bank Itaú and BTG Pactual did. New Launch Date Set for April 26 According to a letter sent by Hashdex to … Read more

Brazil’s Central Bank President Expects to Have News on a CBDC ‘Soon’

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The largest country in Latin America could have its central bank digital currency (CBDC) soon, as the Brazilian central bank is taking steps towards creating it. Recently, the Banco Central do Brasil (BCB) president hinted at the possibility of having news on the matter “soon.” No Decision Has Been Made on Whether the Digital Real … Read more

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