Brazil

The Central Bank of Brazil has announced the official name for its digital currency - DREX.

Visa has announced the development of a programmable financial platform for Real Digital - a digital currency of the Central Bank of Brazil (CBDC) that is scheduled for launch in 2024.

The governments of Brazil and Argentina will discuss the introduction of a common currency between the two countries.

For two years now, the Administrative Council for Economic Defense (CADE) has been pursuing a case involving seven Brazilian banks that denied cryptocurrency brokers access to critical financial services.

A court of justice in Rio de Janeiro, Brazil, has ruled in favor of a local cryptocurrency exchange Mercado Bitcoin in a legal case over the termination of one of its bank accounts - by Banco Santander - due to “incompatible activities with the policy,” and even went ahead to freeze its funds. The judicial position muffled an appeal that was officially filed by Banco Sicoob against a particular decision made by the Barra da Tijuca district court that gave the crypto exchange the right to keep its account operational, CriptomoedasFacil reports.

The President of Brazil, Jair Bolsonaro, revealed on his Twitter account on Monday, January 7, 2019, that the government is gathering info from the National Bank for Economic & Social Development (BNDES) and other relevant government agencies, and further said that several contracts have been crushed and will soon be revealed.

An assessment of crypto usage is not an easy thing to be done, since it is based on population, environment diffusion and legal background. And for this matter, therefore, this assessment has been made based on data from Localbitcoins, Coinatmradar and Coinmap. It has also been made based on the circulation of ATMs and legal acceptance of the currency in these top 10 nations in question.

Brazil’s tax authority is concerned over cryptocurrency-related problems, including money laundering and tax evasion. The institution has officially filed a proposal in order to regulate the digital currency field, which was revealed by the Department of Federal Revenue of Brazil (RFB). According to the document, any exchange will need to make financial reports each month.

Several hackers are using a network of unprotected routers to circulate cryptocurrency-mining malware to users without any suspicion, security experts and researchers have revealed.