{"id":328017,"date":"2021-08-20T15:46:21","date_gmt":"2021-08-20T12:46:21","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/brazils-central-bank-president-endorses-crypto-regulation\/"},"modified":"2021-08-20T15:46:21","modified_gmt":"2021-08-20T12:46:21","slug":"brazils-central-bank-president-endorses-crypto-regulation","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/brazils-central-bank-president-endorses-crypto-regulation\/","title":{"rendered":"# Brazil\u2019s central bank president endorses crypto regulation"},"content":{"rendered":"

“# Brazil\u2019s central bank president endorses crypto regulation <\/strong>”
\n<\/p>\n

Speaking at an online\u00a0event<\/a> organized by the Council of the Americas,\u00a0Roberto Campos Neto,\u00a0president of the Central Bank of Brazil, shared his views on transparent payments networks, the country\u2019s central bank digital currency project and crypto regulation.<\/p>\n

Campos Neto has been a staunch advocate of the cryptocurrency space since taking office in 2019. His progressive policy-making has been an encouragement to investors and organizations alike, ambitious to modernize the Brazilian financial infrastructure.<\/p>\n

During the event, Campos Neto mentioned several ongoing discussions with Brazil\u2019s Securities and Exchange Commission on how to welcome cryptocurrencies into the regulatory landscape:<\/p>\n

\u201cThe financial market is changing so much that it\u2019s all becoming data. We need to reshape the world of regulation.\u201d<\/p><\/blockquote>\n

Fernando Carvalho, CEO of QR Capital, told Cointelegraph Brasil<\/em> last month:<\/p>\n

\u201cBrazilian regulators are recognizing the maturation of the crypto market and understanding that it is important to offer regulated products to investors looking forward to exploring these new asset classes.\u201d<\/p><\/blockquote>\n

Related:<\/em><\/strong> Brazilian securities regulator app<\/a>roves Ether ETF<\/em><\/strong><\/p>\n

Brazil has made notable headlines over the past few years following developments of a government-backed digital payments initiative called Pix, which has garnered over 96 million users, a 45% representation of the nation. Pix has\u00a0partnered with crypto exchange OKEx to facilitate Tether (USDT) purchases in exchange for Brazilian real.<\/p>\n

Additionally, a new exchange-traded fund (ETF) titled BITH11 was\u00a0launched in Brazil last week from investment firm Hashdex Asset Management. The firm reports that this is the country\u2019s first eco-centric Bitcoin (BTC) ETF, with objectives to contribute 0.15% of its liquid assets into carbon credits and eco-tech each year.<\/p>\n

Amid Brazil\u2019s commendable advancements in the cryptocurrency space, Campos Neto is keen to acknowledge the importance of advancing regulation to match the demands of innovation, asking:<\/p>\n

\u201cHow can we reshape the word \u2018regulation?\u2019 Finance will become about data. It will be impossible to regulate financial transactions without understanding the regulation of data.\u201d<\/p><\/blockquote>\n