Brazilian B3 exchange to open after-hours trading for Bitcoin ETF
The Brazilian Stock Exchange B3 will open after-hours trading for Bitcoin ETF later this year, extending trading hours until 9:45 pm local time to meet the growing demand of individual investors for more flexible trading options. In addition to Bitcoin, B3 will also open after-hours trading for Ibovespa ETF, which is equivalent to the US Standard & Poor's 500 Index in the country.
Coinext CEO: Brazil’s cryptocurrency regulatory environment is driving competitiveness
CEO of Coinext said that Brazil's cryptocurrency regulatory environment is driving competitiveness.
Brazil's central bank postpones digital currency DREX pilot
Last week, the Central Bank of Brazil postponed the pilot of the digital currency DREX and suspended the LIFT Lab innovation project indefinitely. It is currently unclear whether the personnel issues affecting the LIFT laboratory may also affect the CBDC pilot.
Brazil's Central Bank Announces Official Name for Digital Currency: DREX
Brazil's new central bank digital currency (CBDC), also known as the digital real, will be officially named DREX, according to an announcement from the Central Bank of Brazil. The name was revealed during a live broadcast on the Bank's YouTube channel. The digital real project will rely on authorized entities to mint the CBDC, which will be recorded with a distributed ledger technology. The DREX will have a practical impact on the lives of everyday Brazilians, especially in increasing the financial services that can be offered to the population.
Brazil's CBDC Source Code Reveals Functions Allowing Central Authority to Freeze Funds or Reduce Balances, Says Blockchain Developer
A blockchain developer claims to have reverse-engineered the source code of Brazil's pilot central bank digital currency and discovered functions that would allow a central authority to freeze funds or reduce balances. However, the developer argues that such functions could be beneficial in certain situations.
Acura Capital Makes $10 Million Deal with Patex, Driving Valuation to $100 Million in Latin American Crypto Space
Acura Capital, a major investment firm in Brazil with $1.3 billion in assets under management, has entered the Latin American cryptocurrency market by acquiring a 10% stake in Patex for $10 million, valuing the company at $100 million.
The Rise of CBDCs Could Lead to the End of the Dollar-Based International Monetary System
Brazil's adoption of central bank digital currencies (CBDCs) may lead to de-dollarization and a shift away from the dollar-based international monetary system in the next decade, potentially creating a multi-currency world. Economist Zoltan Pozsar suggests that CBDCs could reduce global demand for dollars and displace correspondent banks. The US should leverage the soft power aspects of the dollar's dominance, reserve official digital dollars for cross-border settlements, and avoid following China's centralized digital currency model, instead allowing decentralized models with crypto technology for domestic use.
Mercado Bitcoin to Participate in Brazil's CBDC Pilot Project
June 25 (Cointime) - Mercado Bitcoin, the leading cryptocurrency exchange in Brazil, has been granted permission by the Banco Central do Brasil to participate in the creation of the country's Central Bank Digital Currency (CBDC). The CBDC is set to be launched in 2024 and aims to revolutionize the financial landscape of Brazil.
Brazilian Congressman Requests Summoning of Binance Brazil Director for Ongoing Investigation into Financial Pyramids
June 22 (Cointime) - Guilherme Haddad, the Director of Binance Brazil, has been requested to appear before the Brazilian parliament by Congressman Alfredo Gaspar, a member of the Parliamentary Commission of Inquiry (CPI) of the Financial Pyramids. This is part of an ongoing investigation into alleged pyramid schemes operating in Brazil.
Brazil's Central Bank Unveils Roadmap for CBDC Rollout and Tokenized Asset Assessment
Brazil's Central Bank, Banco Central do Brasil (BCB), has released a roadmap for the launch of its CBDC and will also explore the possibility of tokenized assets. The BCB will host monthly webinars until November to discuss CBDC rollout and the results of its digital real pilot, with participation from fintech experts and BCB partners.
