Brazil, witnessing a 44.2% growth in cryptocurrency adoption between January and August 2023, expresses concerns on potential links to tax evasion. Banco Central do Brasil is intensifying regulation and planning its own central bank digital currency (CBDC), raising discussions on digital financial safety.
Search Results for: Roberto Campos Neto
Tightening the Reins: How Brazil’s Crypto Regulation Impacts Market Growth and Sustainability
The steep rise of cryptocurrency imports in Brazil prompted the Central Bank to tighten regulations. While these measures are necessary for investor protection, questions arise whether this can hinder the market’s growth. Regulators globally struggle to strike a balance between market growth and sufficient regulation.
Brazil’s Digital Real Rollout: Transparency Questions and Potential Breakthroughs
Brazil’s Central Bank has archived central bank digital currency (CBDC) related documents on GitHub, providing insight into the core aspects of the digital real. However, the document’s incompleteness sparked requests for the source code, which is promised to be made public after necessary audits. The bank plans to use the Hyperledger Besu blockchain and aims to introduce the digital token by 2024.