Central Bank of Brazil

Central Bank of Brazil President States Digital Real Pilot Is Imminent

February 17, 2023 Bitcoin.com

bitcoin.com

The president of the Central Bank of Brazil, Roberto Campos Neto, has clarified the status of the development of the Brazilian central bank digital currency (CBDC), the digital real. Campos Neto stated that the pilot test will start now and that banks will have to digitize more of their balances in the future. Pilot Tests […]

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Central Bank of Brazil to Test Security and Transaction Privacy Levels of the Digital Real

February 10, 2023 Bitcoin.com

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The Central Bank of Brazil will focus its first digital real tests on determining the levels of privacy and security that can be achieved with the proposed central bank digital currency (CBDC) infrastructure. The tests will be conducted later this year and will set up a simplified operation to transact with a still-to-be-determined tokenized asset. […]

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Sao Paolo Court Ruled Against Binance in User Withdrawal Related Case

January 18, 2023 Bitcoin.com

Binance

A court in Sao Paolo, Brazil, ruled against Binance in a case in which the leading cryptocurrency exchange faced a withdrawal-related complaint. A user, who introduced a lawsuit against the exchange because he couldn’t retrieve his funds from the platform, received almost $2,000 in damages and the funds deposited as part of the court decision […]

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Bradesco, One of Brazil’s Largest Banks, Launches Tokenized Credit Notes in Blockchain Pilot

January 16, 2023 Bitcoin.com

ADDX

Bradesco, one of the largest banks in Brazil and the third biggest in all of Latam, has entered the cryptocurrency world by issuing its first tokenized credit notes. The operation, carried out in partnership with Bolsa OTC, tokenized almost $2 million in bank credit notes, which were also distributed by Bradesco. Bradesco Launches Asset Tokenization […]

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Brazilian Cryptocurrency Law Likely to Be Reviewed by Lula’s Government

January 11, 2023 Bitcoin.com

asset segregation

The recently approved Brazilian cryptocurrency law will likely be reviewed and revised by the newly inaugurated government of Luis Inacio “Lula” Da Silva. According to statements made by the former rapporteur of the law, Expedito Netto, the new government will likely review the law to include some issues that were left behind for its approval. […]

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Brazilian Securities Commission CVM Opens a Path for Funds to Invest in Crypto

December 26, 2022 Bitcoin.com

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The Brazilian Securities Commission CVM has cleared the path for funds to dive into cryptocurrency-based investments. The institution issued a new set of rules that allows financial investment funds to invest in cryptocurrency tokens with the equivalent protections offered to other investment assets such as stocks and bonds, opening new markets for these companies. Brazilian […]

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Brazil Could Launch Its Defi-Integrated Digital Real in 2024

December 17, 2022 Bitcoin.com

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Roberto Campos Neto, president of the Central Bank of Brazil, has stated that the digital real project, the Brazilian central bank digital currency (CBDC) could be launched in 2024. Campos Neto also remarked on the benefits the digital currency system might bring as it is integrated with traditional finance structures and decentralized finance (defi) institutions. […]

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Brazilian Tax Authority Registers Record Number of Cryptocurrency Statements

September 7, 2022 Bitcoin.com

Bitcoin

The Brazilian tax authority (RFB) has revealed its numbers corresponding to the month of July regarding cryptocurrency statements. More than one million Brazilians have declared cryptocurrencies in the month, which constitutes a record in statements for the organization. Also, there was a rise in the number of women holding crypto for this period. Tax Authority […]

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Itau Unibanco Selected by Central Bank of Brazil to Build Real-Pegged Stablecoin Solution

August 29, 2022 Bitcoin.com

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Itau Unibanco, one of the biggest bank conglomerates in Brazil, has been selected by the country’s central bank to develop a system with a stablecoin pegged to the value of the Brazilian real. Itau’s system was one of the eight proposals selected by the Central Bank of Brazil as part of LIFT Lab, an annual […]

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Second Biggest Brazilian Bank Bradesco Not Interested in Crypto, Alleges It Is Still ‘Very Small’

August 24, 2022 Bitcoin.com

Assets

Bradesco, one of the biggest banks in Brazil, has stated it does not have plans to enter the cryptocurrency market in the near future. In an interview, Bradesco CEO Octavio de Lazari Junior stated that the company was currently not interested in launching crypto services to its customers, considering the cryptocurrency market will be “very […]

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