The Federative Republic of Brazil is a country in South America with a population of two hundred eight million and has the largest area in both Latin America and South America. Brazil has a large economy with the eighth-largest gross domestic product (GDP) but a small GDP per capita and poor positions in human-development and crime, with one of the highest levels of homicide and violence. Brazil has no strict regulations towards Bitcoin. Bitcoin in Brazil operates under Law No. 12,865 that was enacted in October 2013. Bitcoin is considered an electronic currency – “resource, stored on a device or electronic system that allows user to perform a payment transaction”. Bitcoin trades are not taxable in Brazil, but operations with blockchain-based currencies are discouraged by financial authorities, such as the Central Bank of Brazil, due to their high operational risks.
In the midst of a country-wide COVID-19 vaccination effort, Brazil looks to add blockchain-based tracking to the equation.
Brazil plans to track COVID-19 vaccinations using blockchain tech
The move is intended to prevent “laundering” cattle from sanctioned farms.
Blockchain tech is helping to reduce the impact of deforestation in Brazil
Brazil’s Hashdex is teaming up with Nasdaq to bring the world’s first Bitcoin ETF to the Bermuda Stock Exchange.
Brazilian fund manager and Nasdaq to launch world's first Bitcoin ETF
A central bank digital currency in Brazil may be inevitable.
Brazil could have CBDC in two years, says central bank president
Discussing a use case that the Brazilian government started developing last year: a digital identity solution called FinID.
Blockchain technology, financial and self-sovereign digital identities
Brazil’s central bank believes you’ve got to change money, to save money.
Brazil’s central bank examines the benefits of a CBDC
Chiliz is entering one of the world’s best football countries by listing CHZ token on the largest crypto exchange in Brazil.
Brazil’s Top Exchange Mercado Bitcoin Lists Sport Token Chiliz