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Tag: Brazil

Brazil Presidential Candidate Trusts Bitcoin’s Potential as a Legal Means of Payment

Category: Adoption, Bitcoin, Blockchain, Finance, News, Regulation

Brazil Presidential Candidate Trusts Bitcoin’s Potential as a Legal Means of Payment

Running for Presidency this October from Partido NOVO, or The New Party, João Amoêdo believes that a digital currency like bitcoin could be adopted in the Brazilian economy to establish an efficient digital payment mechanism, provided there are enough regulations to supervise its use. Amoedo shared his thoughts during an interview with The Bitcoin Portal on August 7, 2018. Country-Wide…

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Brazilian Authorities Shutter International Cocaine Ring Financed Using Bitcoins

Category: Altcoins, Bitcoin, Blockchain, Crime, News

Brazilian Authorities Shutter International Cocaine Ring Financed Using Bitcoins

The Brazilian Police force has successfully arrested several members of an international drug syndicate using cryptocurrency to launder proceeds from their illicit deals. End of the Road According to local news Folha de S. Paulo, Brazil’s Federal Police have apprehended 12 people in connection with an international drug trafficking gang facilitating illegal cocaine deals worth millions of dollars. Per Folha…

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A battle for Supremacy: Firms in Brazil’s ‘Cryptosphere’ Launch Rival Cryptocurrency Organizations

Category: Blockchain, Business, News, Regulation

A battle for Supremacy: Firms in Brazil’s ‘Cryptosphere’ Launch Rival Cryptocurrency Organizations

Despite warnings from the government, Brazilians have latched onto the crypto bandwagon. With over 1.4 million bitcoiners and crypto investors, the vast South American nation undoubtedly has a vibrant virtual currency ecosystem. Now, bitcoin exchanges and cryptocurrency related businesses are creating rival associations instead of uniting themselves under one umbrella in the ‘spirit of the blockchain.’ A Divided House According…

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Brazilian Authorities Uncover Million Dollar Scam Involving Bitcoin

Category: Bitcoin, Finance, News, Regulation

Brazilian Authorities Uncover Million Dollar Scam Involving Bitcoin

Police authorities in Rio De Janeiro have uncovered financial irregularities to the tune of $13,625,901 in a food contract for prisons across the city. It is the first case in Brazil where analysis has indicated that the accused used bitcoin to siphon money instead of regular currency. Following the Digital Bread Crumbs The investigations began on March 13, 2018, and…

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São Paulo ‘Anarchist-Capitalists’ Lead Bitcoin Investment Charge

Category: Altcoins, Bitcoin, Business, Finance, News

São Paulo ‘Anarchist-Capitalists’ Lead Bitcoin Investment Charge

Brazil has been swept up in the Bitcoin craze, accounting for nearly 1.4 million Bitcoin investors and rising. In Sao Paulo, precisely, it’s the digital generation that’s earning the attention of formal sector investors. Brazil Was Made for Bitcoin In the bohemian neighborhood of São Paulo, Vila Madalena, young fintech entrepreneurs have occupied a three-story building known as the “cryptocurrency…

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Brazilian Pastor Stages Own Kidnapping in an Attempt to Get 3 Bitcoin from Family Members

Category: Bitcoin, News

Brazilian Pastor Stages Own Kidnapping in an Attempt to Get 3 Bitcoin from Family Members

The crypto craze has proved yet again it’s a respecter of no man, as a Christian cleric has faked his kidnap, demanding a three bitcoin ransom from his family. Unfortunately for the greedy pastor, his family couldn’t just end their HODL to fund his release. Spiritual Bitcoin As per Gospel Geral, Alexandre Geraldo dos Anjos, a 34-year old Evangelist at…

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Blockchain Could Combat Brazilian Corruption, Help Save Amazon Rainforest

Category: Blockchain, Commentary, News, Regulation, Tech

Blockchain Could Combat Brazilian Corruption, Help Save Amazon Rainforest

Currently embroiled in a massive investigation of graft and down-line corruption, arrests in Brazil have sparked alarm and put blockchain on the agenda as a means of combating future illegal activity. Property Rights and the Imperative for Farming Reporting from Rio de Janeiro, Reuters has detailed how local blockchain supporters are testing the watertight methodology in hopes of stemming future…

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Brazil Now has More than 1.4 Million Bitcoin Investors

Category: Bitcoin, Commentary, News, Regulation

Brazil Now has More than 1.4 Million Bitcoin Investors

Brazil’s cryptocurrency was relatively small in early 2017, but with the hype surrounding the sector seeping into the mainstream attention, more and more people got involved as the year went on. Growth Despite Warning Signs The first investors tended to be young, tech-savvy people. As the second and third quarter rolled around, the popularity of digital currencies started to explode…

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Banks are Turning their Backs on Crypto Exchanges in Brazil

Category: Bitcoin, News, Regulation

Banks are Turning their Backs on Crypto Exchanges in Brazil

Crypto exchanges in Brazil are having rough times as many banks have started to close their doors on them. But, they’re not going down without a fight. String of Difficulties The country’s most prominent cryptocurrency exchange, Mercado Bitcoin, saw its accounts closed at several banking institutions. The company recently filed a lawsuit to maintain its account in Santander, one of…

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Brazil’s Regulators Block Investment Funds From Investing In Cryptocurrencies

Category: Bitcoin, Commentary, News, Regulation

Brazil’s Regulators Block Investment Funds From Investing In Cryptocurrencies

Local investment funds in Brazil can no longer invest in bitcoin or other cryptocurrencies. This restriction was imposed by the Securities and Exchange Commission of Brazil (CVM), which is currently believed to be in the process of crafting policy for crypto regulation. Brazil Weighs In The CVM issued a circular on January 12, 2018, asking all officials overseeing the management…

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