Search Results for: Mercado Bitcoin

Brazil’s cryptocurrency exchange Mercado Bitcoin received a payment provider license, allowing its subsidiary, MB Pay, to offer digital banking services, such as investing in digital fixed income, staking, and financial transactions using crypto assets. This significant milestone potentially boosts crypto adoption in Brazil and raises questions about future regulation and challenges.

Brazil’s largest crypto exchange, Mercado Bitcoin, has been granted a license by the country’s central bank as a payment institution, paving the way for a more integrated experience and business expansion. This development signals a potential shift towards broader acceptance and regulation, with plans to introduce a crypto payments card and offer a range of financial services combining crypto and traditional financial options.

Brazil’s Congress is considering a bill to tax cryptocurrency as “financial assets”, specifically those held by Brazilians overseas. If passed, the legislation would level the tax field between crypto and traditional assets, potentially benefiting local exchanges. The bill might attract greater activity to Brazil’s national crypto exchanges and global players to establish local offices. However, there are concerns that the increased taxation could hamper the growth of the sector or deter foreign investment.

The SEC has targeted Binance and Coinbase in its recent crypto crackdown, resulting in 13 charges against Binance and accusations of unregistered securities offerings against Coinbase. Despite ongoing uncertainty, these events may bring desired legal clarity to the industry.

Argentina’s central bank bans payment platforms from offering cryptocurrencies, impacting companies like Ualá and Mercado Libre. Amidst high inflation, the clampdown aims to mitigate risks and protect customers, potentially limiting Argentinians seeking to safeguard savings amidst economic turmoil.