The regulatory framework for cryptocurrencies in Brazil could be ready in 2027, according to a recent statement from the country’s central bank.

The regulatory body has outlined the timeline for establishing the stages of the regulatory process. The news has been considered a “sign that the country seeks to regulate the digital asset market with greater oversight and clear rules for stakeholders operating with users.”

In the regional crypto ecosystem, Brazil is considered an important market due to the size of its economy and its user base. “The fact that the Central Bank has set a timeline, establishing 2027 as the year in which rules for the crypto industry will be established, indicates an intention to move from general discussions to gradual implementation.”

The establishment of a timeline by the Central Bank of Brazil could have a decisive impact “on how cryptocurrency companies plan their expansion” in Latin America. It may also prompt other countries to accelerate “their own regulatory processes so as not to fall behind in supervisory standards.”

M.Pino

Source: diariobitcoin

(Reference image source: Ewan Kennedy on Unsplash)     

Follow our news on Google! For current, interesting, and accurate information, click here to see all the content on Bitfinance.news. You can also find us on X/Twitter and Instagram

La entrada Brazil’s Central Bank estimates crypto regulation will be ready in 2027 apareció primero en Bitfinance.

The Central Bank of Brazil will implement new regulations in the cryptocurrency market to prevent crimes such as money laundering and other illicit activities in the digital sphere.

According to the announcement made on Monday, November 10, the new BCB regulations will take effect in February 2026 and will focus on controlling international transfers of virtual assets, subjecting them to the existing legislation for the foreign exchange market.

“In addition, there will be a limit equivalent to US$100,000 for transactions carried out with companies that are not duly registered as operators in the national foreign exchange market,” according to the regulatory body.

Furthermore, it is anticipated that companies operating in these virtual markets in the South American country “must have a minimum capital of between 10 and 37 million reais (US$1.8 million), depending on the area in which they operate, and have proper legal representation in the country.”

It is important to note that the Central Bank of Brazil has set a nine-month deadline, starting from the date the regulations come into effect, “for companies already operating in the national virtual currency market to adapt to these requirements.”

M.Pino

Source: swissinfo

(Reference image source: Erling Løken Andersen on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Brazil’s Central Bank to implement new regulations for the cryptocurrency market apareció primero en Bitfinance.

The cryptocurrency exchange CryptoMKT has highlighted the work of the Central Bank of Brazil in crypto regulation, making the country a leader in Latin America.

According to the platform, the South American country follows international standards regarding cryptocurrency regulation, with an approach focused on transparency and participation.

The BCB “seeks to establish clear rules for the legal and accounting treatment of digital assets, including key aspects such as staking, airdrops, and fair value valuation.”

Denise Cinelli, COO of CryptoMKT, has noted that the country sets a precedent that could be evaluated by other nations, since “regulatory clarity is essential to protect users, but also to attract investment and drive innovation.”

The model Brazil is following is based on three essential pillars:

• First: the accounting recognition of staking and airdrops, two mechanisms that are frequently underregulated or poorly recorded in the accounting books of many companies.
• Second: valuation based on the fair value criterion, which would allow for estimating the real market value of digital assets and promote more accurate and comparable accounting practices.
• Third: financial disclosure requirements to improve the quality of information reported by companies linked to the crypto world.

Another determining aspect stands out in this process: citizen participation. The Central Bank is implementing this through a public consultation among exchanges, fintechs, banking institutions, developers, and interested citizens, with the goal of “jointly building an applicable, inclusive, and effective regulatory framework.”

The premise is not only to regulate, but to do so by listening to the participants in the country’s crypto sector. In this regard, Cinelli stated: “Regulation built with a vision for the future and active participation of the ecosystem is the right path. This type of progress builds confidence and accelerates the adoption of cryptocurrencies as a real tool for inclusion and financial freedom.”

M.Pino

Source: diariobitcoin

(Reference image source: Kanchanara on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Brazil leads crypto regulation in Latin America apareció primero en Bitfinance.

On Wednesday, August 6, a meeting will be held between the Central Bank of Brazil, Anbima, B3, Banco Central, CVM, Febraban, FGC, and Sebrae to discuss topics related to financial education, its dissemination in public schools, and the recognition of teachers in this sector.

The meeting will be held at Casa Portugal, from 9:00 a.m. to 8:00 p.m., with participation restricted to those invited and the media, who must register by sending a request to imprensa@anbima.com.br.

The objective of this second meeting “is to promote joint initiatives, expand access to the topic, and integrate different areas of action.” During the event, the new partnership between Anbima, the Central Bank, CVM, and Sebrae will be announced. The goal is to “expand the Learning Value program, created by the Central Bank, which brings financial education to public schools. The intention is to broaden the project’s reach and strengthen its presence in the school curriculum.”

The presentation of the “Learning Value Award” is scheduled, which seeks to “recognize the efforts of teachers, schools, and educational networks that promote innovative practices in financial education.”

The agenda includes topics such as inclusion and financial health, teaching in schools and universities, and topics related to behavioral economics, with the aim of “stimulating new approaches and promoting connections between different sectors,” which will have a positive impact on promoting individual autonomy and the country’s economic stability.

M.Pino

Source: beincrypto

(Reference image: Headway on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Central Bank of Brazil promotes financial education apareció primero en Bitfinance.

In May, Brazil’s fiscal deficit narrowed to 7.56 % of accumulated Gross Domestic Product over the last 12 months, according to the Central Bank’s report released Monday.

“In May alone, the consolidated nominal public sector deficit of Latin America’s largest economy, which includes primary income and debt interest, was 125.885 billion reais (23.312 billion dollars or 19.669 billion euros),” according to the Central Bank of Brazil.

The figure reported by the financial institution represents a negative balance for the fifth month of the year. More than double that recorded in April, “breaking a streak of three consecutive declines in the nominal deficit since February.”

According to the Central Bank, the primary fiscal deficit, which serves as a benchmark for the country and does not include debt interest payments, showed a “deficit of 33.74 billion reais ($6.248 billion) in May, compared to a deficit of 63.895 billion reais ($11.832 billion) in the same month of 2024.”

The report also reflected the primary deficit of Brazil’s public accounts for the same 12-month period, with a surplus of 24.1 billion reais (approximately $4.462 billion), equivalent to 0.20 % of GDP.

According to the Central Bank, Brazilian President Luiz Inácio Lula da Silva’s goal is to close 2025 with no deficit in his public accounts.

M.Pino

Source: swissinfo

(Reference image source: ORLANDO SANT’ANNA on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Brazil reduced its fiscal deficit to 7.56 % of GDP in May apareció primero en Bitfinance.

The Central Bank of Brazil lowered its economic growth forecast for this year due to the inflation rate, increased public spending, and various weather events.

The reduction in the growth forecast “indicates that further interest rate hikes will affect activity as policymakers struggle with above-target inflation.”

The Brazilian regulator expects gross domestic product to grow 1.9 %, a figure below the previous estimate of 2.1 %, according to its monetary policy report published on Thursday, March 27.

Persistent inflation, as well as consumer demand, are the cornerstone of Latin American central banks’ efforts. On the other hand, “adverse weather conditions and lavish public spending are fueling food price increases, infuriating consumers and making the job of central bank chief Gabriel Galipolo even more difficult.”

Brazilian President Luiz Inácio Lula da Silva remains active in the face of this situation, making decisions to ease the pressure of the high cost of living.

M.Pino

Source: larepublica

(Reference image source: F Cary Snyder on Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on X/Twitter and Instagram

La entrada Central Bank of Brazil lowers economic growth forecast apareció primero en Bitfinance.

The Brazilian government will apply the necessary measures to adjust to the continuous inflation goal of 3 %, as indicated this Wednesday by President Luiz Inácio Lula da Silva.

Currently, the country is subject to annual inflation targets that must be met each calendar year set by Brazil’s National Monetary Council (CMN), the country’s main economic policy body.

According to the president, they have managed to maintain the existing goal, “the change in the deadline to evaluate compliance with the inflation goal was announced a year ago, but it depended on a presidential decree that has not yet been signed by Lula.”

In this sense, the goal of 3 % for the period 2024-2026 is equivalent to approximately 1.5 percentage points. In any case, the CMN must meet again to vote on the goal for 2027.

According to Finance Minister Fernando Haddad, the goal is to achieve “inflation targets within a continuous time frame,” given that a longer-term approach “offers more room to adapt to price shocks without requiring monetary tightening.”

The action of the Central Bank on the issue is crucial on the issue. In fact, on Tuesday Lula held a meeting with Gabriel Galipolo, director of monetary policy at the BCB, to study the inflation target.

It is appropriate to mention that the official will head the Central Bank once the term of the current director, Roberto Campos Neto, ends in December.

M.Pino

Source: finanzasdigital

(Reference image source: UX Indonesia in Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Brazil will adopt continuous inflation target of 3 % apareció primero en Bitfinance.

The pilot of Brazil’s central bank currency, or CBDC, known as Drex, was postponed until the end of 2025 because the government estimates that privacy solutions are still inefficient.

The announcement was made by the Central Bank of Brazil, considering the proposals made so far as lacking the necessary maturity, in addition to involving problems with user privacy. By the end of 2025, the pilot will be resumed, which will also feature the “implementation of smart contracts to promote use cases proposed by private parties.”

According to the Brazilian regulator, “a new phase of the pilot, which will begin in July and end in 2025, will allow the implementation of new functionality, including smart contracts, by third parties.”

This seeks to extend the reach of the initiative, and involve private entities in the launch of new CBDC projects that for now are outside the scope of what the central bank originally designed for Drex.

Regarding the Drex CBDC, it is known that its design has been conceived “to be part of a blockchain system supported by Hyperledger Besu, which complicates the compliance of standard transactions with the country’s banking and tax secrecy regulations.”

M.Pino

Source: news.bitcoin

(Reference image source: Jason Briscoe in Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Brazil delays pilot of its CBDC until 2025 apareció primero en Bitfinance.

The Central Bank of Brazil indicated recently that the proposed regulation for the use of cryptocurrencies and the operation of service providers will be known by the end of 2024.

Last year, in his appearance before Congress, the bank’s regulatory director, Otavio Damaso, had indicated that the regulation would be completed in June 2024. However, with the recent decision, all the work that had been carried out since 2022 was delayed and which had been consolidated in 2023 with the adoption of the Legal Framework for Cryptoassets.

With this measure, the Central Bank of Brazil adopts a gradual approach to the application of regulations on cryptocurrency trading and service providers, with the possibility of “adapting and responding to the rapidly evolving cryptocurrency market, while ensuring that regulatory measures are solid and comprehensive,” according to the Binance portal.

The regulatory body seeks robust regulations that provide security and confidence to the crypto market in Brazil, in addition to “protecting investors in this type of assets and demanding transparency about the risks associated with investing in cryptocurrencies,” Swissinfo reports.

In the second half of the year, the Central Bank will carry out a new consultation that includes the participation of civil society on the issue of regulation. Likewise, “it will take into account the proposals of international organizations and will have the support of the Brazilian Securities Commission when it comes to specific virtual assets that affect its powers.”

Key market aspects such as anti-money laundering and terrorist financing laws will be evaluated.

M.Pino

Source: swissinfo

(Reference image source: Ewan Kennedy in Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Crypto regulation proposal in Brazil will be revealed at the end of the year apareció primero en Bitfinance.

The Central Bank of Brazil reduced interest rates by 0.5 % this Wednesday, reaching the lowest level since 2023, when they remained at 13.75 %. Thus, the country maintains the basic interest rate of the economy (the Selic rate) at 10.75 % annually.

According to the regulator, “the decision to reduce interest again was based on the control of inflation, which is currently at 4.5 % year-on-year and is within the goal established for this year.”

For this year, the organization has set an inflation goal of 3.0 %, “with a tolerance margin of 1.5 points in both directions” and a maximum of 4.5 %.

Although cuts have been applied in the country since 2023, they have been moderated despite the insistence of President Luiz Inácio Lula da Silva, who points out that “a stronger rate cut would guarantee greater growth in the economy,” which in 2023 It was 2.9 %, above what was expected but below that of 2022 (3 %).

According to experts, the forecast indicates that the country’s economy will maintain its deceleration to 1.8 % this year. In the current situation, where the reduction in inflation is becoming slower, “and with a challenging global scenario, serenity and moderation is required in the conduct of monetary policy.”

M.Pino

Source: swissinfo

(Reference image source: Unsplash+, in collaboration with Getty Images)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Brazil reduced interest rates to lowest level in two years apareció primero en Bitfinance.