Mercado Bitcoin supports Brazil's CBDC efforts (report)

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Von: Krypto News Österreich

Mercado Bitcoin – die größte Kryptowährungsbörse in Brasilien – wird Berichten zufolge am Pilotprojekt des Landes zur Einführung eines digitalen Real teilnehmen. Die Zentralbank beabsichtigt, im Jahr 2024 ein solches Finanzprodukt herauszugeben. Die Liste der Mitwirkenden Wie ein lokales Medienunternehmen berichtete, hat die Banco Central do Brasil Mercado Bitcoin autorisiert, an der CBDC-Entwicklung teilzunehmen. Zu diesem Thema sprach Fabricio Tota, Direktor für Neugeschäft an der Börse: „Unsere Teilnahme bestätigt die Absicht der Zentralbank, Innovationen in das Finanzsystem zu bringen, und zwar bei denen, die bereits mit dieser Technologie gearbeitet haben, und nicht nur bei den etablierten Betreibern, die sie sich …
Mercado Bitcoin - the largest cryptocurrency exchange in Brazil - will report on the country's pilot project to introduce a digital real. The central bank intends to publish such a financial product in 2024. The list of contributors, as a local media company reported, has authorized the Banco Central do Brasil Mercado Bitcoin to take part in the CBDC development. Fabricio Tota, director of new business on the stock exchange, spoke on this topic: “Our participation confirms the intention of the central bank to bring innovations into the financial system, namely for those who have already worked with this technology, and not just among the established operators who ... (Symbolbild/KNAT)

Mercado Bitcoin-the largest cryptocurrency exchange in Brazil-is reportedly participating in the pilot project of the country for the introduction of a digital real.

The Central Bank intends to publish such a financial product in 2024.

The list of participants

As a local media company reported, Banco Central do Brasil Mercado Bitcoin has authorized to take part in the CBDC development. Fabricio Tota, director of new business on the stock exchange:

"Our participation confirms the intention of the Central Bank to bring innovations into the financial system, namely for those who have already worked with this technology, and not only for the established operators that they have acquired."

The other project participants include well-known companies such as the payment processing giant MasterCard, the financial software fintech Sinqia, the brokerage company awesome and others.

The Brazilian central bank has previously shown that only regulated financial institutions can support CBDC efforts with direct access to the National Financial System National Financial System.

The consortium intends to participate in all aspects of the test, including negotiations on securities in wholesale, retail and the State Ministry.

The Central Bank Goals publish a CBDC next year. According to the original plan, the money product will be a blockchain-based instrument that supports retail transactions and is secured by bank deposits.

"This could reduce the loan costs, the costs of improving the capital return. There is great potential for new service providers and fintechs that democratize and offer new services," added Fabio Araujo-the coordinator of the CBDC project.

Additional crypto responsibility for the central bank

The Brazilian Central Bank was not only responsible for the issue of digital currencies, but also for the issue of digital currencies Land. The law signed by President Luiz Inácio Lula da Silva was officially on June 20th.

According to the rules, local companies may not offer cryptodic services without obtaining the approval of the financial institution. The bank will also monitor whether organizations will comply with the combination of money laundering and whether they are connected to criminal activities, including the financing of terrorism.

The Brazilian SEC will also play a role in the regulation process. It will work with the Banco do Brasil to monitor digital currencies classified as securities. It is worth noting that the applicable domestic law does not determine which assets fall into this category and which are regarded as goods.

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