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WhatsApp Payments Suspended by Brazil’s Central Bank

Brazil’s central bank has ordered Mastercard and Visa to suspend processing money transfers on behalf of Facebook’s WhatsApp.According to official information shared with Cryptox Brazil, the Central Bank of Brazil (BC) took action against WhatsApp Pay “to preserve an adequate competitive environment” and allow the central bank to assess the

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Brazil’s PIX Payments System Has the Same Spirit, but Not a Blockchain Structure

The Central Bank of Brazil made some waves last week with its new instant payment system. While not blockchain-based, the new system, dubbed PIX, nevertheless is imbued with some of blockchain’s core attributes.Money transfers have historically been slow, cumbersome and expensive. For example, Bank A takes its fee when

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Brazil’s Central Bank to Launch Near-Instant Payments as a Response to Cryptocurrencies

A new payments system is coming to Brazil later this year promising almost instant transfers.Called PIX, the project from the country's central bank will provide 24/7 payments in up to 10 seconds via mobile apps, internet banking and ATMs, according to reports from Reuters and local crypto news site Livecoins

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Brazil’s IRS Sets Rules to Fine Citizens Who Don’t Declare Crypto Holdings

The Internal Revenue Service (IRS) in Brazil has established a specified code to categorize punishment for taxpaying citizens who fail to declare their cryptocurrency operations and holdings. This can be seen as Brazil’s major attempt to take a stronger control over the Bitcoin(BTC)trade and other digital currencies trade and exchange

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As Brazil’s Economy Risks Recession, Regulators and Banks Implement Blockchain

Brazil’s weak economic growth and inflationary pressure have led to more than 13 million Brazilians currently out of work. The unemployment rate currently stands at 12.5%. While the country runs the risk of recession, cryptocurrency’s low barrier for entry and promise of large returns appeal to Brazilians. Bruno Peroni,

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Ripple Opens Shop in South America with Brazil’s $2 Billion Remittance Market

By CCN Markets: Ripple has announced the launch of operations in Brazil as it prepares to capture a slice of the country’s lucrative remittances market and the South American region as a whole. The enterprise blockchain solutions firm indicated that it made the decision in ‘response to high customer demand

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Brazil’s New President Jair Bolsonaro Shuts Down ‘Indigenous Cryptocurrency’ Project

Brazilian President Jair M. Bolsonaro has recently revealed through social media his administration has shut down a project that would see Brazil launch an “indigenous cryptocurrency.” The revelation came as he was criticizing the “BNDES black box” referring to contracts associated with the National Bank for Economic and Social Development, a

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