Brazil authorized a brand new crypto framework, requiring all VASPs to be authorised and meet banking-style requirements by February 2026. Companies should adjust to steep capital necessities, beginning at $2 million, and strict guidelines on AML/KYC and governance. The brand new guidelines classify purchases/gross sales of fiat-pegged stablecoins and theirContinue Reading
Banco Inter, Chainlink, and central banks of Brazil and Hong Kong accomplished a blockchain pilot connecting Drex and Ensemble for cross-border commerce settlements. The pilot examined real-time settlement utilizing DvP and PvP fashions, conditional funds, and automatic asset updates to scale back threat and prices for SMEs. Companions plan toContinue Reading
Brazil’s Chamber of Deputies will hold a hearing on 20 August to deliberate on creating a national Bitcoin reserve through bill 4501/2024. A 2024 proposal suggested allocating 5% of Brazil’s US$330 billion reserves to Bitcoin, which would equate to approximately US$16.5 billion in BTC. Brazil leads South American crypto adoptionContinue Reading
