2019-6-14 16:59 |
Brazilian regulators will create a cross-sector regulatory sandbox to respond to digital transformations powered by new technologies such as DLT
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Brazilian legislators in the Chamber of Deputies proposed allocating 5% of the nation’s $370 billion treasury to Bitcoin strategic reserve.
In this week’s LATAM crypto update, we saw two key launches: Crypto. com’s new Visa card and Nubank Brazil’s new crypto tool exchange in its App. Crypto. com’s highly anticipated Visa card aims to meet the increasing demand for practical cryptocurrency usage in the region.
LATAM’s cryptocurrency scene is witnessing notable growth this week, with Lemon launching virtual cards in Argentina and the use of crypto ATMs in Colombia surging by 25%. These developments highlight the region’s increasing embrace of digital assets, offering new opportunities for users and businesses alike.
This week in LATAM’s cryptocurrency landscape, Brazil continues to see an increase in cryptocurrency activity, with imports of digital assets reaching USD 1. 4 billion in September, as Argentina moves forward on plans to regulate tokens.
Brazil’s government is set to enhance its cooperation with the central bank to tackle regulatory issues surrounding cryptocurrency and meal vouchers. This initiative is anticipated to take shape next year with the appointment of Gabriel Galipolo as the new central bank president.
Brazil’s Central Bank Chief, Roberto Campos Neto, announced on Tuesday that stablecoins and asset tokenization are set to be regulated in the country next year. He shared these remarks in a video for market intelligence firm Uqbar.
Brazil’s stablecoin market is experiencing explosive growth, significantly outpacing Bitcoin in transaction volume on local exchanges. This surge reflects an increasing preference for stablecoins in B2B cross-border payments, driven by the need for stable US dollar exposure amid local currency fluctuations.