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.
Four Brazilian financial regulators are teaming up to aggregate data using blockchain technology to streamline the screening of politicians and corporations.
Brazilian Regulators Create DLT Platform for Screening Politicians
Cointelegraph spoke to cLabs’ Xochitl Cazador to find out about Celo’s community grants and the network’s plans for 2020.
Celo to Issue at Least $15.7 Mln in Community Grants During 2020
Bitcoin investment platform XDEX, founded by partners of Brazil’s largest investment broker in LatAm, XP Investimentos announced its closure.
Brazilian Crypto Exchange XDEX Announces Full Closure
Brazil’s banking chief argues that crypto is a failure as a currency — but in neighbouring Venezuela it has already ‘changed the destiny of an entire country’.
Cryptocurrency is a Failure as a Currency Says Brazil's Banking Chief
Binance has rolled out peer-to-peer crypto trading with five new Latin American fiat currencies.
Binance P2P Adds Five New Fiat Currencies in Latin America
Alibaba has registered a patent in Brazil that aims to establish a blockchain-based transaction system.
Alibaba Files for a Blockchain Transaction System in Brazil
André Figer, vice president of one of the largest sporting career management companies in Brazil, has his eyes firmly set on tokenizing soccer players.
Major Brazilian Sports Entrepreneur Tokenizes Soccer Players