Brazilian Police Bust Alleged Crypto Fraud That Cost Investors $360M
Brazilian police have shut down a purported bitcoin investment scheme they allege stole 1.5 billion Brazilian reals.
Crypto adoption is up from Argentina to Venezuela, especially bitcoin and stablecoins like dai. But each market is unique.
Brazil's central bank spent 1.3 million Brazilian reals (USD $250K) over two years building its new database for financial regulators on Quorum, replacing a slow and expensive paper-based system with a fully digitized version.
Brazil’s national competition regulator is about to decide the fate of its investigation on whether some of the largest banks in the country wrongly locked local crypto brokers out of financial services.
Brazil’s major financial regulators have unified their intelligence troves under a blockchain-backed sharing system called PIER.
The PIX payments system is coming to Brazil later this year, promising almost instant transfers for individuals and businesses.