Hong Kong's financial regulator, the Hong Kong Monetary Authority, has teamed up with the central banks of Thailand and Brazil to explore tokenization use cases in cross-border finance. In a press release on October 28, the HKMA announced that the collaborations would concentrate on creating use cases for tokenized assets ...
Brazil is integrating DeFi principles into the creation of its own "synthetic" central bank digital currency (CBDC), Drex, formerly known as the Brazilian digital real. According to Roberto Campos Neto, president of Banco Central do Brasil (BCB), the South American country aims to design a CBDC that tackles the "trilemma" ...
Brazilian authorities have reportedly launched a major crackdown on a multi-billion-dollar cryptocurrency-based money laundering operation spanning several cities, including São Paulo, Fortaleza, and Brasília. The operation, which has laundered billions of dollars, is at the centre of "Operation Niflheim," an effort led by the Federal Revenue Service and Federal Police. ...
Brazil's neobank Nubank has suspended trading its of native token, Nucoin. “From now on, the ability to buy and sell Nucoins within the app will no longer be available. Trading has been suspended, and Nucoins will only be used for redeeming benefits and products within the app,” Nubank noted in ...
Brazil's tax authority, the Special Department of Federal Revenue of Brazil (RFB), is set to summon foreign cryptocurrency exchanges operating within the country to clarify their operations and cooperation with local service providers, according to a new report from Reuters. Officials from the agency told Reuters that an ordinance expected ...
Binance has launched its instant payment service, Binance Pay, in Brazil. In a blog post on August 22, 2023, the crypto exchange noted that the move was to allow local merchants to offer a new payment alternative to their customers. Binance Pay is a contactless, secure payment service that facilitates ...
Brazil's central Bank, Banco Central do Brasil (BCB), announced on August 7, 2023, that their digital currency (CBDC) will now be called "Drex" instead of "Real Digital." According to the Central Bank’s official statement, the name "Drex" is an amalgamation of letters: the "d" and "r" is a nod to ...
Guilherme Haddad, the Director of Binance Brazil, has been summoned to appear before the Brazilian parliament as part of a broader investigation into alleged pyramid schemes in the country. The request was made public on Wednesday, June 21, 2023, by Deputy Alfredo Gaspar, a member of the Parliamentary Commission of ...
Banco Central do Brasil is set to expand its Digital Real Pilot Program in mid-June 2023 to include additional participants. In an update on May 24, 2023, the Brazillian central bank revealed the final list of participants selected for the CBDC pilot program. A total of 14 participants were chosen ...
