Regulations Need to Facilitate Crypto Demand, Says Brazilian Central Bank President

2021-8-21 16:30

Central Bank of Brazil President Roberto Campos Neto believes local regulations should facilitate investors’ demand for cryptocurrencies.

“This comes out of a need that people have for payments to be very fast, open, secure, and have transparency in every sense,” Campos Neto said on Thursday at an event organized by Council of the Americas. The Central Bank President is confident that cryptocurrencies will have as large a role to play as instant payment platforms.

Order and progress

Campos Neto has made a concerted effort to enhance the technological savvy of Brazil’s financial sector since assuming office in 2019. Under his tenure, academics and economists have been conducting workshops on a digital version of the real. The central bank even launched its own instant payment platform last year, Pix, that is currently used by 96 million of a population of 213 million

Campos Neto said he was in the midst of ongoing conversations with the local securities exchange commission. He hopes to persuade them of a new regime where customers can trade cryptocurrencies alongside platforms like Pix. The payment tool hit a record of 40 million transactions in just one day earlier this month. 

However, regulators are concerned that cryptocurrencies have so far been treated more like an investment tool than a payment system. “We need to pay attention to that,” Campos Neto added. “The financial market is changing so much that it’s all becoming data. We need to reshape the world of regulation.” 

Crypto ETFs

Other manifestations of the country’s progressive approach to cryptocurrencies include listings of crypto-based exchange-traded funds (ETFs) on Brazilian exchanges. In March, Brazil’s Securities and Exchange Commission (CVM) approved a Bitcoin ETF launched by QR Capital. Brazil’s first Bitcoin ETF was listed on the Sao Paulo stock exchange under the ticker QBTC11. Hashdex then launched its Nasdaq Crypto Index Fund on Brazil’s B3 exchange under the ticker symbol HASH11 in April.

Additionally, after coming in first with a Bitcoin ETF, last month QR Capital launched South America’s first Ethereum ETF. The fund will be run by QR Asset Management and will appear on Brazil’s stock exchange with a ticker QETH11.

The post Regulations Need to Facilitate Crypto Demand, Says Brazilian Central Bank President appeared first on BeInCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Central African CFA Franc (XAF) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Äîñòóïíî / Âñåãî 0 XAF

central president regulations demand bank facilitate crypto

Èñòî÷íèê: beincrypto.com

central president → Ðåçóëüòàòîâ: 126


Tanzania’s Central Bank says It’s Working on President’s Directive to Prepare for Bitcoin Adoption

The central bank of Tanzania said it is working on President Samia Suluhu’s directive to prepare for cryptocurrencies, which could reverse the ban put on digital assets in 2019. The new president came to power in March after the death of her predecessor John Magufuli and is much more open to foreign investment than him.

2021-6-27 16:58


Ôîòî:

Tanzania’s Central Bank Working on Reversing Crypto Ban, Following President’s Directive

The Bank of Tanzania said that it is planning on reversing its previous ban placed on cryptocurrency after the Tanzanian President asked the country to prepare for the adoption of crypto.  Bank of Tanzania Looks to Lift Crypto Ban According to Reuters on Friday (June 25, 2021), Tanzania’s central bank is working on the directiveRead More

2021-6-26 15:00


Ôîòî:

Nigeria Bureau De Change Association Boss Accuses Speculators of Destabilizing the Naira— Says Central Bank Funding Will End Currency Woes

According to the head of the Nigerian group of bureau de change operators, the naira’s continued fall on the parallel market is down to the activities of speculators. However, Aminu Gwadabe, the president of the Association of Bureau de Change Operators of Nigeria (ABCON), suggests that only a “massive funding” of bureau de change (BDC) […]

2021-5-22 15:00


Ôîòî:

The Global Economy Comes Before Savers: ECB President Christine Lagarde Defends Negative Interest Rates

The European Central Bank President Christine Lagarde is keeping the central bank’s monetary easing policies unchanged according to her statements from a press conference last Thursday. Moreover, the central bank’s Twitter account recently shared a video of Lagarde defending negative interest rates, as the bank’s President stresses that they “support companies and people in the […]

2021-4-27 07:30


Ôîòî:

Nigerian Vice President Yemi Osinbajo Contradicts Central Bank, Says Cryptocurrencies Must Be Regulated and Not Prohibited

In an apparent rebuke of the Central Bank of Nigeria (CBN), the Vice President of Nigeria Yemi Osinbajo says the country’s monetary authorities must consider regulating crypto assets. He adds that instead of “killing the goose that might lay the golden egg”, Nigerian monetary authorities must consider providing a “robust regulatory regime” that addresses their […]

2021-2-28 06:30


Stablecoins More Stable than ‘Flawed’ Bitcoin; Only a Central Bank Should Issue a Digital Currency: Bank of Canada Official

Deputy Governor Tim Lane calls the ongoing price action in the crypto market a “speculative mania,” while ECP President says adding Bitcoin to its reserves is “out of the question." The post Stablecoins More Stable than ‘Flawed’ Bitcoin; Only a Central Bank Should Issue a Digital Currency: Bank of Canada Official first appeared on BitcoinExchangeGuide.

2021-2-11 16:36


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Àíàëîã Notcoin - Blum - Èãðàé è çàðàáàòûâàé Ìîíåòû



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru