Wednesday, March 29, 2023

It's all about technology

The President of Brazil officially signs cryptocurrency rules and laws

Brazil has officially defined the rules and laws governing the virtual digital asset sector. Jair Bolsonaro, President of Brazil, has signed the previously proposed crypto bill into law. The Brazilian Parliament approved the draft crypto rules last November. Crypto operators operating in Latin American countries have 180 days to ensure compliance with these new laws.

Brazil will likely get a new internal committee that monitors all cryptocurrency activity processed in the country, and upcoming cryptocurrency companies that aim to set up shop in Brazil will now have to obtain the relevant “Virtual Service Provider” license to legally operate there.

According to a report by CryptoPotato, under the laws, once crypto companies get their approvals, they will be able to set up physical offices in Brazilian cities.

Changpeng Zhao, CEO of cryptocurrency exchange Binance, described Brazil’s move as a milestone in the global crypto sector.

The laws are meant to protect investors from exposure to financial fraud because the crypto sector is riddled with scammers and, in general, crypto transactions are untraceable.

New laws are instructing law enforcement units in Brazil to create a new “fraud offense” category that will deal with cryptocurrency financial fraud.

Nubank in May, Brazil’s largest digital bank by market capitalization, began offering Bitcoin and Ether to be bought or sold on its platform. Nubank’s decision was prompted by the growing number of cryptocurrency investors there.

Canada, India, the United Kingdom, and the United States are also working on their own cryptocurrency rules that may see the light of day next year. 

Get notified whenever we post something new!

Continue reading

Steam to End Support for Windows 7 and 8 in 2024, Users Need to Upgrade to Windows 10

Valve has announced that its gaming client, Steam, will drop support for Windows 7, Windows 8, and Windows 8.1 from January 1st, 2024

GitHub lays off entire engineering team in India amid global market conditions

GitHub, the popular developer platform owned by Microsoft, has taken the unusual step of laying off almost its entire engineering team in India in response to weakening global market conditions

Apple Music Classical: Free App for Classical Music Lovers with 5 Million Tracks Available for Download

Apple has launched a new app called Apple Music Classical, which is now available for download by everyone. This app is free of charge, but requires an Apple Music subscription