The elections could affect not only the leadership of the digital real, but also the future of the Brazilian economy, including the cryptocurrency markets..
last year, bitcoin (btc) acted as a strong alternative to the brazilian real that ended 2021 by breaking negative records and reaching a devaluation of 6.5% by december, making it the 38th worst currency in the world.
In one year's ups and downs for bitcoin, the largest cryptocurrency hit a backdrop of 167,000 real in january and climbed with global markets to 355,000 real in may. faced with bitcoin’s dip, the brl/btc pair was stuck below 200,000 reals until august, when it began to rise to a new historic high of 367,000 real on nov. 8.
Facing the dip of bitcoin, brl/btc remained under 200,000 until august, when it began to rise to a new historical peak of 367,000 real on november 8. 10 million brazilians now participate in the crypto market, according to coinmarketTen million Brazilians are now involved in the cryptography market, according to CoinMarket.
in traditional financial markets, the brazilian stock exchange debuted exchange-traded funds (etfs) linked to bitcoin and ether (eth). there are already five etfs listed on b3, some of them positioned among the most profitable in the entire brazilian stock market in 2021.
the central bank of brazil also announced new developments in the digital real, a central bank digital currency (cbdc), which could be launched as early as 2023. the brazilian central bank also announced that it will continue working to incorporate blockchain technology into its services by carrying out a series of tests through a dedicated team at the monetary authority.
in the federal congress, discussions on the regulation of cryptocurrencies in brazil dragged on throughout the year, until in december, federal deputies approved bill 2303/15, which establishes criteria for the regulation of cryptocurrencies in the country. The bill will be further discussed in 2022 in the House plenary session and later in the Federal Senate.
There were tensions between the major players in the cryptocurrency market in Brazil in 2021.
Tensions existed between key players in the cryptocurrency market in Brazil in 2021. exchanges around the country worked with the brazilian cryptoeconomy association to comply BINANCE to follow rules established by the brazilian securities and exchange commission, federal revenue service and the central bank. Exchanges across the country worked with the brazilian cryptoeconomy association to conform binance to follow the rules set by the brazilian securities and exchange commission, the federal revenue department and the central bank.
on the other hand, brazil’s largest exchange, mercado bitcoin (mb) — today one of latin america’s crypto unicorns — expanded its operations in the country, entering the sporting world once and for all. Related: 'mecca of mineral exploitation': brazil considers zero tax on bitcoin green miningon the other hand, brazil's biggest stock market, mercado bitcoin (mb)—today one of the latin american crypto unicorns—has expanded its operations in the country, enter the sporting world once and for all.
the nonfungible token (nft) market also reached brazil with wide adoption and presence of brazilian players in play-to-earn games, collectible platforms and even in the arts, being adopted by visual artists and renowned names in brazilian music such as andre abujamra and zeca baleiro.
The non-fungible token market (nft) has also reached brazil with a broad adoption and the presence of brazilian players in the games to win, collecting platforms and even in the arts, be adopted by visual artists and well-known names of brazilian music like andre abujamra and zeca baleiro. Next year, we can expect even more big Brazilian and Latin American companies to enter the cryptocurrency market.
The Brazilian stock market hopes to expand its offer of cryptocurrency-related investments, with experts targeting decentralized finance (challenge), nfts and metaverse. The Brazilian Stock Exchange hopes to expand its supply of cryptocurrency-related investments, with experts targeting decentralized finance (challenge), NFT and Metaverse.