login
register
Aug 12, 2022 09:15
Brazil's financial authorities soften their stance on bitcoin
Brazil is one of the few countries in Latin America where cryptocurrencies have not yet found sufficient support from the government. But it seems that the situation here is changing for the better especially for investors.
The other day, the Governor of the Central Bank of Brazil, Fabio Araujo, made an official statement in which he admitted that bitcoin can be called a progressive financial innovation, because it has become a catalyst to accelerate the work of central banks in exploring the potential of national digital currencies (CBDC).
Araujo acknowledged that the worldwide adoption of bitcoin has forced the Brazilian Central Bank over the past 10 years not only to study it as an asset, but also to work through the possibilities of this innovative technology to send funds via blockchain.
According to him, blockchain, as a transaction processing technology, will contribute to the digitalization of the country's payment sector in the near future. In addition, Brazil's financial regulator is also exploring the use of the Web 3.0 concept to create retail-oriented services in the near future.
These statements have been very positively received by the crypto community, and at the moment key players are already considering several options to enter the Brazilian markets. Henbbo Foundation is also actively involved in this process and has already outlined an expansion of its Latin American segment.
HENBBO - smart investment will change your life!
