Brazilian Central Bank Embraces Crypto with IMF Guidelines
This week kicked off with a bang as Brazil’s central bank declared its intention to adopt International Monetary Fund (IMF) guidelines for cryptocurrencies. By classifying these digital assets as non-financial products, they are now considered goods on the central bank’s balance sheet. This classification doesn’t just sound fancy; it potentially paves the way for cryptocurrencies to be recognized as legitimate methods of payment.
Crypto and Point-of-Sale Magic from Cielo
In a move that feels more like a scene from a sci-fi film, Cielo, Brazil’s largest payment processor, announced the addition of crypto transactions to its massive network of Point-of-Sale (POS) devices. With approximately 1.4 million devices scattered across the country, customers can now whip out their mobile phones, scan a QR code, and voila! Payments in cryptocurrencies including Bitcoin are a go. But wait, there’s more: reports suggest Cielo is exploring payment options that wouldn’t even require POS devices, using only mobile apps. Talk about fancy footwork!
Portugal Says ‘No Thanks’ to Bitcoin Tax
Meanwhile, Portugal is shaking things up on its end of the Atlantic. Recent reports indicate that the Portuguese tax authority doesn’t intend to slap value-added taxes (VAT) on Bitcoin transactions. This follows an existing policy that exempts Bitcoin trading income from taxation. However, don’t pop the champagne just yet! Since these decisions come from the tax agency rather than the parliament, they might be as secure as a house of cards if new legislation comes into play.
Innovative Real Estate Ventures: Land Buy on the Blockchain
In a testament to how far technology has come, Brazilian construction powerhouse MRV proudly announced its first blockchain-based real estate purchase. In a press release, they celebrated completing the entire land registration process in a mere four days — a far cry from the typical timeline of up to four months. It seems blockchain is not just for crypto enthusiasts; it’s making a splash in the traditional sectors as well.
Grupo Bitcoin Banco: A Scandal Unfolds
On a slightly darker note, the infamous Grupo Bitcoin Banco is in hot water. Following accusations of fraudulent activities, the group stated that it currently has “no deadline” to reimburse clients. Customers are understandably unhappy, having reported problems withdrawing funds they’ve invested for several months. Rumor has it this scandal might be heading towards a cliffhanger, with reports of a freeze on withdrawals linked to alleged $50 million scam activities. Makes you wonder if they took a page from the “How to Lose Friends and Influence No One” handbook.
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