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Veteran Trader Peter Brandt Says Gold Is Poised for Massive Chart Breakout

Veteran Trader Peter Brandt Says Gold Is Poised for Massive Chart BreakoutPeter Brandt, a veteran trader and respected chartist, says gold is poised for a massive chart breakout with targets of $2,800 and then $3,200, based on an inverse head and shoulders pattern indicating a bullish trend. This outlook aligns with recent bullish forecasts from various analysts and economists. Gold Poised for Major Breakout, Says Trader […]

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Binance Celebrates Bitcoin Pizza Day With Global Pizza Distribution Campaign

Binance Celebrates Bitcoin Pizza Day With Global Pizza Distribution CampaignIn 2010, programmer Laszlo Hanyecz made history by trading 10,000 bitcoins for two pizzas, marking the first documented commercial transaction using the cryptocurrency. Fourteen years later, Binance, the world’s largest cryptocurrency exchange, is commemorating this milestone with a global campaign to distribute over 5,000 pizzas to crypto traders and enthusiasts. Crypto Exchange Binance Plans to […]

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BLUR Token Plummets Over 28% in March, Despite Blur’s Dominance in NFT Sales Market

BLUR Token Plummets Over 28% in March, Despite Blur’s Dominance in NFT Sales MarketWhile the non-fungible token marketplace Blur has captured a significant amount of the market share in terms of NFT sales, the market’s native token, BLUR, lost more than 28% in value last month. At present, BLUR tokens are down more than 88% since the crypto asset’s all-time high recorded on February 14, 2023. Blur’s Native […]

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Stablecoin Trading Dominates Monday’s Crypto Market, Tether and BUSD Sell at Premiums

Stablecoin Trading Dominates Monday’s Crypto Market, Tether and BUSD Sell at PremiumsOn Monday, the crypto economy experienced significant market activity with $183.85 billion in global trade volume over 24 hours, with a large portion of those trades involving stablecoins. USDC traded near parity with the U.S. dollar, and several stablecoins, including tether and BUSD, sold at premiums. Tether reached a high of $1.04 per unit and […]

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Binance Bans Russians From P2P Transactions With Dollars and Euros

Binance Bans Russians From P2P Transactions With Dollars and EurosCryptocurrency exchange Binance has introduced new restrictions for Russian users, in accordance with the latest European sanctions. The platform is restricting access to peer-to-peer (P2P) transactions in U.S. dollars and euros for traders based in the Russian Federation. Binance Prohibits US Dollar and Euro Transactions for Russians on Its P2P Market The world’s largest crypto […]

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Crypto Exchange Bitzlato Restores Access to User Funds

Crypto Exchange Bitzlato Restores Access to User FundsRussia-linked cryptocurrency exchange Bitzlato has begun processing withdrawals of digital assets belonging to its customers. The trading platform was shut down in an operation carried out by law enforcement agencies in the U.S. and Europe alleging that it had been used to launder dirty money. Bitzlato Allows Withdrawals After Staying Offline for Weeks Users who […]

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Brazil’s oldest bank allows residents to pay their taxes using crypto

The move will allow Brazilian taxpayers to easily settle their tax liabilities, meanwhile expanding "access" to the digital asset ecosystem.

A major Brazilian bank is offering a new and convenient option for taxpayers to settle their dues using cryptocurrencies.

According to a statement published by Brazilian bank Banco do Brasil on Feb. 11, it is now “possible” for Brazilian taxpayers to pay their tax bill with crypto, in a joint initiative with Brazilian-based crypto firm Bitfy.

It is available to Brazilian’s who have their crypto under the custody of Bitfy, which will act as a “collection partner” for the major Brazilian bank.

It noted that besides the convenience it brings to customers, it could “expand” the use and access to the digital asset ecosystem with “national coverage," while having the comfort of a reputable bank providing consumer protection.

Lucas Schoch, Bitfy’s founder and CEO added that the “new digital economy is a catalyst for a future full of advantages.”

It was stated that crypto users will experience a straightforward process, as the tax details will be displayed, as will the equivalent amount of Reais, the official currency of Brazil, be converted into the chosen cryptocurrency. 

Taxpayers will access their tax bill by scanning a barcode, similarly to how they pay “a boleto,” meaning “ticket,” a popular payment method in Brazil.

Related: Brazil could cement its status as an economic leader thanks to 2024 CBDC move

This move comes after Brazilian city Rio de Janeiro started accepting cryptocurrencies as payments for taxes in October 2022.

More recently in Dec. 2022, Brazil passed a regulatory framework that legalizes the use of cryptocurrencies as a payment method within the country.

The law will likely come into effect in June later this year.

Brazil’s citizens were previously told they would be required to pay taxes on like-kind crypto trades, for example swapping Bitcoin (BTC) for Ethereum (ETH), in May 2022.

However, not all crypto investors in Brazil need to declare their trades, with the regulator establishing that only investors who trade more than BRL 35,000 (approximately $6,711 US) in crypto should pay income tax.

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Three Arrows Capital Co-Founder Announces New Crypto Venture Open Exchange Amid Bankruptcy Controversy

Three Arrows Capital Co-Founder Announces New Crypto Venture Open Exchange Amid Bankruptcy ControversyFollowing the recent court filing from liquidators for Three Arrows Capital (3AC) claiming frustration with the 3AC co-founders for allegedly failing to respond to subpoenas sent via Twitter. Su Zhu, one of the co-founders, recently tweeted about his new crypto venture, Open Exchange. The exchange aims to provide users with the ability to trade or […]

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