Replies to post #22518 on Bitcoin (BTCUSD)

[Investors3]

Central Bank Of Portugal Approves Licenses For Crypto Exchange
June 22 2021 - 04:25PM
NEWSBTC

In another win for the adoption of blockchain technology and cryptocurrencies, the Central Bank of Portugal (Banco de Portugal) has officially announced that they will begin approving licenses for crypto exchanges to operate within the country. Two have already been granted. This is the first time that crypto asset exchanges are able to operate within […]

https://ih.advfn.com/stock-market/COIN/BTCUSD/crypto-news/85420823/central-bank-of-portugal-approves-licenses-for-cry

Central Bank Of Portugal Approves Licenses For Crypto Exchange
Cameron Bailey by Cameron Bailey 5 seconds ago in Crypto Reading Time: 2 mins read

In another win for the adoption of blockchain technology and cryptocurrencies, the Central Bank of Portugal (Banco de Portugal) has officially announced that they will begin approving licenses for crypto exchanges to operate within the country. Two have already been granted.

This is the first time that crypto asset exchanges are able to operate within the country since a new law on blockchain technology was passed earlier this year.

Criptoloja and Mind the Coin are currently the only virtual assets service providers officially licensed and listed on the bank’s website. However many more are sure to follow suit. The decision has been a long time coming as Criptoloja initially attempted to register in Sept 2020.

From the Central Band of Portugal’s official announcement, with these licenses, Criptoloja and Mind the Coin are now able to:

* exchange services between virtual assets and fiat currencies or
between one or more forms of virtual assets;

* transfer services of virtual assets;

* safekeeping and/or administration of virtual assets or instruments
that enable the control, ownership, storage or transfer of such
assets, including private encrypted keys.

The people of Portugal can now be certain that their crypto assets are transferred and can be kept securely on these open exchanges. Having a license issued from a central bank shows Portugal’s confidence in crypto assets and the continued adoption of the technology.

Countries Around The World Warming Up To Cryptocurrencies?

Portugal is just one of many countries in Europe allowing cryptocurrencies to be traded within its borders. Just last month Malta Financial Services Authority (MSFA) issued Xcoins, a major cryptocurrency exchange, a Class 3 Virtual Financial Asset License. This is the second license that the MFSA has given out with the first being Crypto.com.

Not only are countries in Europe quickly moving to adopt both blockchain and crypto technology, but El Salvador was also recently the first country to adopt bitcoin as legal tender. Many other South American countries have been quick to also jump on the growing crypto revolution. See our related reading below for a run down of the recent adoption movement in South America.

Related Reading | South American Countries Are Interested In Adopting Bitcoin: Who Will Be Next?

Only time will tell what countries will wake up and join to the blockchain revolution next. But as more an more countries jump on the blockchain train, others will be sure to follow suit or quickly get left behind. Blockchain technology is still very young so as more applications that the blockchain has become available, more countries will allow exchanges to operate within their borders so as to let their citizens reap the benefits of decentralized networks.

https://www.newsbtc.com/crypto/central-bank-of-portugal-crypto-exchange/

[Investors3]

SoftBank invests $200 million in Brazilian crypto exchange Mercado Bitcoin
by Ryan Weeks
July 1, 2021, 7:32AM EDT · 1 min read

The SoftBank Latin America Fund has invested $200 million in the parent company of Mercado Bitcoin, one of the largest cryptocurrency exchanges in the region.

The fundraise values Mercado Bitcoin’s parent company 2TM Group at $2.1 billion, placing it among Latin America’s unicorns – privately held startups with valuations north of $1 billion.

The Series B raise comes just five months after the crypto exchange secured an undisclosed sum through a Series A round, which was co-led by G2D/GP Investments and Parallax Ventures.

The latest capital injection will be used to expand Mercado Bitcoin’s products and infrastructure, as well as to grow the firm’s headcount to 700 people by the end of 2021.

“Millions of people around the world are realizing that digital assets and cryptocurrencies are both innovative technologies and efficient stores of value – Brazil is no exception to that trend,” said Roberto Dagnoni, executive chairman and CEO of 2TM Group, in a statement.

Mercado Bitcoin’s customer base now stands at 2.8 million, after it added an additional 700,000 clients between January and May this year.

Marcelo Claure, CEO of SoftBank Group International and COO of SoftBank Group, said the exchange is positioned “at the forefront of the Latin American blockchain revolution and as a defining player in the cryptocurrency explosion in Brazil.”

2TM Group is a Brazilian holding company focused on digital assets. In addition to operating Mercado Bitcoin, it runs wallet firm Meubank, custodian Bitrust and several other crypto-focused businesses. Meubank is set to launch this year, subject to regulatory approval.

https://www.theblockcrypto.com/linked/110250/softbank-invests-200-million-brazilian-crypto-exchange-mercado-bitcoin?utm_source=coinbase&utm_medium=rss

[Investors3]

Argentina Open to Adopting Bitcoin, Says President Alberto Fernandez
"I don't want to go too far out on a limb [...] but there is no reason to say ‘no,'" Fernandez said in a local television interview.
By Jose Antonio Lanz
3 min read
Aug 12, 2021

The president of Argentina, Alberto Fernandez, has suggested that he is amenable to the idea of crypto playing a larger role in Argentina’s economy, despite his own skepticism.

During an interview on Caja Negra, aired by Filo.news yesterday, Fernandez was asked if he would consider making use of a central bank digital currency, or perhaps even emulate El Salvador and adopt Bitcoin as legal lender. "I don't want to go too far out on a limb [...] but there is no reason to say ‘no,’” Fernandez said. “Perhaps that is a good path to take."

"They say the advantage is that the inflationary effect is largely nullified," he explained.

Inflation is one of the most sensitive issues in Argentine politics. Fernandez inherited the second-most “miserable” economy in the world, according to Bloomberg's World Misery Index, from former president and businessman Mauricio Macri. According to the government’s own data on inflation, $100 at the beginning of Macri's term would be equivalent to $661 today.

The country also imposes strong currency exchange controls, which caused a boom in the black market for foreign currency—something very different from the Salvadoran reality, where the U.S. dollar is legal tender.

Fernandez, however, tempered his interest in cryptocurrencies like Bitcoin as potential hedges against inflation with a healthy dose of caution.

"It is a global debate, and I must confess that it is a topic [that I approach with] caution. In my case, there is caution because of how unfamiliar it is, and because it is hard to understand how this fortune materializes," he said, referring to how the value of Bitcoin has increased throughout the years. "Many people in the world have these concerns, and that is why the project, or the system, has not yet expanded [more than it has]. But it is something to consider," said the president.

Interest in cryptocurrencies has increased considerably in Argentina in recent years, largely because it can be used as indirect exposure to the U.S. dollar, which protects investors in the country from the devaluation of the local currency, the Argentine peso. Beyond just Bitcoin, stablecoins such as DAI are also popular among Argentine traders.

But before Bitcoin enthusiasts get too excited, the Argentine president’s words should be measured against those of the country’s central bank. Earlier this week, the president of Argentina's central bank, Miguel Pesce, said he believes Bitcoin “is not a [real] financial asset, and does not generate any [lasting] profitability.”

https://decrypt.co/78424/argentina-open-adopting-bitcoin-president-alberto-fernandez?&utm_medium=referral&utm_campaign=feed&utm_source=coinbase

[Investors3]

Brazilian Lawmaker Aims to Make Bitcoin a Legal 'Payment Currency'
A bill that seeks to regulate Bitcoin and other cryptocurrencies is expected to go to the Chamber of Deputies for debate in the next few days.
By Jose Antonio Lanz
3 min read
Oct 5, 2021

Lawmakers in Brazil are working on establishing a regulatory framework that would make it easier to invest in Bitcoin and other cryptocurrencies while making it tougher on scammers and hackers.

Brazil’s legislature recently approved the draft of Bill 2.303 / 15, which seeks to regulate digital currencies. The bill was originally introduced by Deputy Expedito Netto. But now Deputy Aureo Ribeiro of the Solidariedade Party has proposed an updated draft that seeks to give Bitcoin legal status as a “payment currency” in the country.

At the moment, Bitcoin is unregulated in Brazil and its use in commerce is discouraged. The new law, if passed, would give Bitcoin legal standing in the country for the first time. The bill, however, stops short of calling for Bitcoin to be recognized as "legal tender" (i.e. an official, state-sanctioned currency), though it is unclear how a "payment currency" would be defined by the new law.

Ribeiro, however, has suggested that the bill would provide Bitcoin with enough legal protection to be accepted throughout Brazil, just like fiat currencies such as the Brazilian real or U.S. dollars.

"We want to separate the wheat from the chaff, create regulations so that you can transact, know where you are buying, who you are trading with, and have this asset to buy a house, a car, [or] go to McDonald's to buy a hamburger," Ribeiro said in an interview for Radio Cámara —the official media of the Brazilian Chamber of Deputies. "It will be a currency in the country just like it is in other countries," he said, likely alluding to the way in which Latin American countries like El Salvador have adopted Bitcoin of late.

Ribeiro’s bill would replace the initial proposal, expanding on Deputy Netto's draft and clarifying specific, and controversial, topics, including the exemption of “rewards points” from the definition of virtual assets.

Brazil wants to win the Bitcoin race

Brazil is one of the most advanced countries in the world with regard to the availability of investment products focused on cryptocurrencies. The country’s stock exchange currently lists four cryptocurrency ETFs. What’s more, HASH11 —which follows the Nasdaq Crypto Index Fund—has grown to become one of the most traded ETFs in Brazil.

Brazilians can also invest in two other Bitcoin ETFs and one Ethereum ETF. There are also several mutual funds managed by Hashdex and BLP available for retail and professional investors.

Besides Brazil, the only countries in the Latin American and Caribbean region that have approved cryptocurrency ETFs for trading are Chile and Bermuda.

Earlier this year, Brazil's central bank developed a platform that enabled free and instant transactions available 24 hours a day, which crypto industry observers viewed as a detriment to the value proposition of cryptocurrencies. The president of the bank added more recently that the country aims to issue a central bank digital currency sometime in 2022.

Ribero believes that Bitcoin could be recognized as a payment currency as early as this year if all goes according to plan.

https://decrypt.co/82675/brazilian-lawmaker-bitcoin-legal-payment-currency