Brazil’s X ban: Are VPN users at risk for accessing the platform?
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Brazilians Will Be Able to Pay Taxes With Crypto
Brazilians will now be able to pay part of their state taxes using cryptocurrencies. Banco do Brazil, a mixed ownership bank, is launching the option of paying a set of taxes with crypto, using Bitfy, a Brazilian cryptocurrency startup, as a payment processor, exchanging the cryptocurrencies paid for Brazilian reals on the fly. Brazilians Will … Read more
Brazilians Turn to Stablecoins as Alternative to US Dollar for Hedge Against Volatility
Brazilians are turning to stablecoins as a way of shielding themselves from the volatility of economic circumstances. This is happening now in the wake of the inauguration of the new government of Luis Inacio “Lula” Da Silva. According to statements coming from exchange executives, the trading volumes of stablecoins have soared in 2022, especially during … Read more
Binance to Open Two Offices in Brazil, Company Hints at Debit Card Launch
Binance, one of the biggest crypto exchanges by volume traded, has announced its expansion plans for Brazil. The exchange will open two new offices in the country to host 150 employees, who will be able to choose if they want to work in-office or remotely. The company also hinted at the launch of a debit … Read more
Home Crypto Mining Spikes in Brazil Amid Record High Unemployment
With rising unemployment rates and rampant economic uncertainty, in the wake of the Covid crisis, a growing number of Brazilians are finding an alternative income source in cryptocurrency mining. GPU rigs have been spotted even in favelas as a relatively small investment can return more than the average salary in Brazil. Pandemic and Uncertainty Turn … Read more
Brazilians Who Held $1,000 in Crypto Last Year Must Report It on Tax Returns by End of May
Taxpayers in Brazil have only a couple of days left to file their annual tax returns. Investors who had more than 5,000 reals worth of cryptocurrency in 2020, a little less than $1,000, are obliged to report the funds on their income tax declarations this year. Brazilians who fail to do that on time face … Read more
Brazilians Can Now Bet on President Bolsonaro’s Reelection Bid on FTX
Crypto derivatives exchange FTX has launched a futures contract that allows Brazilian voters and traders in jurisdictions where the platform is available to bet on the outcome of Brazil’s next presidential election. With health and financial crises looming in the country, Jair Bolsonaro’s second term as head of state is far from certain. FTX Launches … Read more
The Daily: Binance Adds Stablecoin Pairs, Tzero Patents Integration Platform
Cryptocurrency exchange Binance is opening trading for three stablecoin pairs. Also in Tuesday’s Daily, Overstock’s Tzero has patented a solution to integrate traditional and cryptocurrency trading systems, Morgan Creek founder Jason Williams offers his Lamborghini for bitcoin, and in Brazil, crypto investors are looking to buy vaults to safely store their digital assets. Also read: … Read more
The Daily: Crypto Vault in Hong Kong, ‘Herd of Institutional Investors’ in Crypto
A Hong Kong-based investment firm is planning to launch a new crypto-custody service to address the growing interest from institutional clients, and we’ve covered the story in today’s Bitcoin in Brief. Also in The Daily, billionaire Mike Novogratz expects an influx of institutional investors into the crypto space; a new survey claims 30 percent of … Read more
