It is soon to be decided whether the coming regulation triggered by FTX’s bankruptcy will bring a silver lining to crypto.
In a blog post titled “Bitcoin’s last stand,” the European Central Bank warned banks against interacting with digital currency as it could taint their reputation, claiming BTC is “The Central Bank innovated massively in 2020 with the ‘PIX,’, an electronic instant payment method that has gained wide acceptance in the country. Considering the success it’s had so far I would imagine that the next natural step would be to have the ‘PIX’ on-chain.”
A clear regulatory framework will bring more legal certainty for some institutional players to participate but by no means was Brazil hindered in terms of innovation within this field. Anything that bridges liquidity between multiple jurisdictions and Brazil is a very interesting opportunity. An international investor would face a less complicated bureaucratic process and local businesses could access more capital.
Brazilians have earned significant benefits from technological and financial innovation, such as the emergence of fintech and the use of blockchain. The country's financial institutions would gain a lot from the latest regulatory framework.
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Brazil 🇧🇷 way to go:) that is great for crypto adoptation!
It's just a matter of time. If crypto regulation doesn't ruin everything.
It is estimated that 10 million Brazilians, or about 5% of the population, trade crypto assets. Let's go Brazil! In the midst of all the confusion, one more good news
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