Central Bank of Brazil

Brazil Prepares to Let Tradfi Institutions Embrace Crypto

November 13, 2024 Bitcoin.com

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The Central Bank of Brazil is preparing to open the cryptocurrency market to traditional finance institutions, which will be able to operate in this industry with clarity after the enactment of the upcoming regulation. Small crypto startups might face challenges in regularizing their situation due to the high bar this framework will impose. Central Bank […]

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Latam Insights Encore: Brazil’s Stablecoin Remittance Tax Is Doomed From the Start

November 5, 2024 Bitcoin.com

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Welcome to Latam Insights Encore, a deep dive into Latin America’s most relevant economic and cryptocurrency news from last week. In this edition, we examine how the Central Bank of Brazil has proposed a tax on the use of stablecoins for making remittances and how this might drive retail users away from regulated exchanges. Latam […]

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Central Bank of Brazil Highlights Tokenization Potential Before IMF and World Bank

October 26, 2024 Bitcoin.com

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The Central Bank of Brazil propped up tokenization and “open finance” as key elements of the future’s financial system. In a panel presentation before the IMF and the World Bank, the bank’s president stated that the intersection between these had been underestimated. Central Bank of Brazil Considers Tokenization Potential ‘Underestimated’ In a recent panel presentation […]

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Central Bank of Brazil Reveals New Use Cases to Be Tested in Its Drex CBDC Second Pilot Phase

September 9, 2024 Bitcoin.com

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The Central Bank of Brazil disclosed a new set of use cases that will be part of the second phase of the ongoing pilot of its drex CBDC. Among the 13 instances selected from the 46 presented are platforms for tokenizing real estate, liquidity pools for trading public securities, and even automating automobile transactions. Central […]

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Central Bank of Brazil Hints at a Future Integration of AI Into Its CBDC

September 5, 2024 Bitcoin.com

AI

The Central Bank of Brazil has hinted at implementing artificial intelligence (AI) and data monetization processes into Drex, its central bank digital currency (CBDC). In a recent presentation, Roberto Campos Neto, the Central Bank of Brazil’s president, stressed that the bank’s innovation agenda had four blocks: Pix, Drex, Currency Internationalization, and Open Finance. However, he […]

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Central Bank of Brazil Aims to Finalize Crypto Exchange Regulation by Early 2025

July 30, 2024 Bitcoin.com

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According to Nagel Paulino, head of the Central Bank’s regulatory department, the Central Bank of Brazil hopes to finalize cryptocurrency market regulations by 2025. The institution will conduct a second public consultation to finalize the drafts, hearing the opinions of market participants in order to tailor these rules to local needs. Central Bank of Brazil […]

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Parfin Creates New Blockchain to Be Used as Privacy Solution for Brazilian CBDC

June 23, 2024 Bitcoin.com

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Parfin, a financial technology company, has created a new blockchain system to be used as a privacy solution for the Brazilian CBDC, drex. Rayls, the new blockchain, will offer the possibility of operating in a permissioned way and also linking itself to other public blockchains using Rayls Public Chain, a native Ethereum layer two (L2). […]

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Central Bank of Brazil Aims to Finalize Crypto Regulations This Year

May 21, 2024 Bitcoin.com

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The Central Bank of Brazil outlined its crypto regulation calendar, defining a three-phase process for finalizing these tasks in 2024. The bank aims to consult market actors regarding VASPs, establish plans to regulate stablecoins and finalize the rules to welcome VASPs into the country later this year. Central Bank of Brazil to Finalize VASPs and […]

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Digital Real Pilot to Run on Ethereum-Compatible, Permissioned Blockchain

March 9, 2023 Bitcoin.com

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According to the Central Bank of Brazil, the digital real pilot project will use an Ethereum-compatible, permissioned blockchain for the issuance of the tokenized version of the country’s currency. Hyperledger Besu, the open-source platform elected for the tests, will allow the project to run without any licensing costs and to deal with maintenance costs later, […]

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Brazilian Digital Real Passes Public Blockchain Pilot Test With Flying Colors

February 27, 2023 Bitcoin.com

Bank of Brazil

A tokenized version of the digital real, the Brazilian central bank digital currency (CBDC), has passed a public blockchain pilot test successfully. The test, which was carried out by Mercado Bitcoin, a local exchange, using the Stellar network, shows that the digital real token can be used in public blockchains following all compliance rules set […]

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