TL;DR Breakdown Mercado Bitcoin exchange wants to expand across South America. The exchange raised over $35 million in funding  The largest Bitcoin exchange in Brazil, Mercado Bitcoin, has announced its intention to spread its tentacles over South America. This was made known by Reinaldo Rabelo who is the CEO of the crypto exchange firm. According […]
A major crypto fraud scheme in Brazil has been halted by the Brazilian authorities. DOJ aided in the seizure of millions of dollars from one of the conspirators. In cooperation with the Brazilian authorities, the United States Department of Justice has helped to shut down a major cryptocurrency investment fraud in Brazil. According to information […]
Grains and oilseeds companies partners to boost operations in Brazil. The blockchain platform is expected to debut by next year. Agricultural is one other sector where blockchain technology is steadily harnessed to improve business operations in the farms. Many agribusiness companies are using technology today to boost food supply chain tracking as well. Today, several […]
The fight against the refusal of banking institutions to provide services to Brazilian crypto companies has gained momentum. The boost follows the recent announcement of the Administrative Council for Economic Defense or CADE, to reopen investigations into the matter. CADE to reopen its investigation CADE, the antitrust regulator in Brazil voted to resume its probe […]
Partido da Causa Operaria or POC, one of the many political parties in Brazil has expressed high dissatisfaction with digital currencies by ranting on them, according to a recent report from a local news outlet. The party went as far as naming cryptos in Brazil and accusing the Wall Streets of market dominance. Political party […]
Thanks to the effort of Over the Counter (OTC) crypto exchange firm, robbers were foiled from completing the heist of around $5 million from an account of the metallurgical company Gerdau at Santander bank.  The robbers tried converting the stolen funds into Bitcoin, which drew attention and led to several bank accounts being frozen. However, […]
A Brazilian cryptocurrency firm by the name of M Intermediação e Prestação de Serviço Ltda. has had its Banco Bradesco account shut down since 2018 due to alleged suspicious activity and the prevention of fraud. However, M Intermediação has now won a lawsuit against Branco Bradesco, who it sued for unlawfully closing down a bank account which contained a large majority of the company’s’ customer funds. M Intermediação mentioned that despite being a crypto company they had a fiat currency account with Bradesco in order to allow their customers to pay not only with cryptocurrencies but with Brazilian real as
According to a recent report from Cointelegraph Brazil, the northeast city of Fortazela in Brazil has agreed to allow its citizens to pay for their bus fairs in Bitcoin as well as debit and credit cards. The Cooperative of Independent Transport of Passengers of the State of Ceará has said that by introducing cryptocurrency payments alongside the more common debit and credit cards would reduce operational costs for the city public transport. The good news is that there will be other cryptocurrencies accepted aside from Bitcoin, but the entity responsible hasn’t disclosed which cryptos will be included as of yet.
Brazil has introduced a new law that allows the local tax agency, Department of Federal Revenue of Brazil, to gather information from local cryptocurrency exchanges on customer transactions in order to prevent crypto tax evasion. The new laws are going to come into force starting in September 2019 and will cover any and all legally registered cryptocurrency exchange in the country. When it comes to Brazilian citizens trading cryptocurrencies on foreign platforms, it will be up to the traders themselves to report their trading volumes exceeding $8000. The reports will have to include the assets used, the date and type
Ripple has finally committed to its plans for expanding further south, this time targeting South America. The company chose the largest and the most populated country as it’s jumping point into the local economy. Ripple has hired local experts, one of which stands out the most. Luiz Antonio Sacco has been chosen as the leading managing director of Ripple’s operations in the region, due to his affiliation with the fintech industry in the past. However, it was soon found out that despite the press release today, Ripple had already employed Sacco as early as March 2019. So this idea has