Brazil Bans Crypto in Cross-Border Payments
The Central Bank of Brazil published Resolution No. 561, which imposed a blanket ban on the use of cryptocurrency assets, such as bitcoin and stablecoins, for entities providing international payment…
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B3 to Launch Bitcoin-Linked Prediction Contracts as Brazil Bans Polymarket and Kalshi
Brazilian stock exchange B3 is launching six “Event Contracts” today, including instruments tied to bitcoin price movements. The country’s first federally regulated prediction market comes three days after the National…
Central Bank of Brazil: Stablecoins Dominate Over $6.9 Billion Crypto Purchases Registered in Q1
According to data released by the Central Bank of Brazil, stablecoin purchases comprised $6.8 billion of the $6.9 billion in cryptocurrency purchased abroad by Brazilians during Q1. This represents an…
Largest Bank in Brazil Moves to Invest in Bitcoin Mining
Itau Unibanco, through its VC arm Itau Ventures, has made an undisclosed investment in Minter, a company that installs mobile data centers and bitcoin mining operations across Brazil. Minter’s approach…
As Taxes Fade Away, Stablecoin Adoption Continues to Rise in Brazil
The adoption of stablecoins in Brazil continues to grow, now reaching beyond the cryptocurrency sector. The main point behind this rise in adoption across several industries is that stablecoin payments…
Brazilian Police Arrest Singers Linked to $320 Million Crypto Laundering Ring
The arrests of the two singers and others were part of Operation Narco Fluxo, a high-level operation executed by the Brazilian Federal Police across several states. The flows intermediated using…
Brazil’s Ruling Party Files Bill to Ban Online Gambling Entirely as President Lula Stays Silent
The legislative caucus of Brazil’s Workers’ Party has filed a bill proposing an outright federal ban on online gambling, escalating what had been campaign rhetoric into formal legislation that would…
Shrinkflation Hits Brazilians as Middle East Conflict Pushes Prices Higher
Shrinkflation, a phenomenon featuring products shipped in smaller quantities but sold at the same prices, is starting to hit the Brazilian economy, as inflation has taken a turn for the…
Defying US Criticism, Brazil Mulls Pix’s Globalization
The bank announced that it is considering making Pix, a Brazilian instant payment network, available to other countries, allowing cross-border payments and remittances using this system. The U.S. government has…
How Brazil’s Instant Payment Network Pix Might Influence the Presidential Election
The recent attacks on the Pix system by the U.S. government evolved into a situation that might tilt the balance toward any of the candidates before the upcoming election, with…
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