OKEx Beacon Mentorship and Masterclass Program to Create Employment Opportunities in Crypto...

24m
newsbtc

Tron (TRX) Price Analysis: Signs of A Strong Rally To $0.02

43m
livebitcoinnews

Bitcoin Goes Above $10K 15 Minutes After President Trump's Speech on Law and Order

1h
cryptoglobe

African-American business leaders on George Floyd |

1h
cryptonewmedia

Japanese Finance Minister May Be Opposed to Lowering Tax on Crypto

1h
cryptonewmedia

2 Swiss Banks Launch Cryptocurrency Trading and Custody After Gaining Regulatory Approval

1h
cryptonewmedia

Ethereum Layer-2 Scaling Initial Deployments Successful

1h
beincrypto

Bitcoin Cash Rallies 8%: Here’s Why A Surge To $300 Is Likely

2h
cryptonewmedia

‘Woke’ Khloe Kardashian Desperately Wants to be an Activist

2h
cryptonewmedia

Ethereum Price Analysis: ETH Eyeing More Upsides Above $250

2h
livebitcoinnews

Bitcoin Surges Above $10,000 Registering Almost 6% Growth

2h
cryptonewmedia

Bulls Brace For Fireworks As Bitcoin Breaks $10K, What’s Fueling the Rally?

2h
zycrypto

Cryptographic Tech May Overhaul ID Verification in UK Conveyancing Industry

2h
beincrypto

The Secret, Absurd World of Coronavirus Mask Traders and Middlemen…

2h
cryptonewmedia

Web3 Brands and the Decentralized Renaissance – Cointelegraph Magazine

2h
cryptonewmedia

Ethereum Classic Follows Up on Ethereum with Phoenix Hard Fork

3h
bitcoinnews

US Turmoil and Negative Interest Rates – Billionaire Michael…

3h
cryptonewmedia

Bitcoin About To Enter A Full-Blown Bull Market Based On This...

3h
zycrypto

Bitmain Unveils Cheaper T19 Bitcoin Miner to Regain Lost Market Share

3h
thebitcoinnews

Bitcoin Smashes $10K: Key Reasons Why BTC Could Correct Before Fresh…

3h
cryptonewmedia

Walmart China brings VeChain’s Food Traceability Platform to Sam’s Club China

3h
cryptonewmedia

Bitcoin Braces for $11,000 on Weaker Dollar Demand

3h
bitcoinist

‘Financial Surveillance’ or ‘Blockchain Analysis’? Human Rights Foundation Debates Elliptic

3h
cryptonewmedia

Madoff fund litigator on SCOTUS denial to hear HSBC v. Picard |

3h
cryptonewmedia

Swiss Bank Maerki Baumann Launches Crypto Custody and Trading

3h
cryptonewmedia


Brazil’s President Rebuffs Cryptocurrency as Administration Explores Blockchain

coindesk

1yr ago

Brazil’s President, Jair Bolsonaro, has come out publicly in opposition to bitcoin.

In an interview aired on national television, the Brazilian president commented on cryptocurrency being used to bank indigenous people in Brazil. During a conversation centered on the challenges of his new presidency, Bolsonaro talked about projects created by his predecessor’s administration. One of the efforts was a $11.5 million project that aimed to create an “indigenous cryptocurrency”.

“We are cutting expenses. We were about to use 40 million Reales to teach natives to use bitcoin,” he said. In fact, Bolsonaro said, he doesn’t even know what bitcoin is.

“I don’t know,” he said. “Is it a coin?”

The National Indian Foundation (Funai) and the Fluminense Federal University (UFF) created the project in order help bank Brazil’s indigenous people. The country’s Ministry of Human Rights, Family and Women vetoed it in January.

The shutdown of the cryptocurrency project was one of the first actions taken by Bolsonaro’s administration. This is the first time the leader commented about bitcoin in public although Brazil is one of the most active countries in Latin America’s blockchain sphere.

Despite the president’s initial ignorance of bitcoin, the growing cryptocurrency and blockchain ecosystem in Brazil is impossible to ignore.

Bolsonaro’s administration itself also showed certain preferences for blockchain. Back in February, the leader appointed an economist involved in blockchain and cryptocurrency to run the Central Bank of Brazil.

Currently, Brazil is one of the biggest cryptocurrency markets in Latin America and has the highest bitcoin trading volume in all the region, reaching nearly 100,000 BTC in April alone.

Regarding any copyrights issue, please contact us:content@hashbee.com.

0 comments