# Brazil

ALL From Brazil

Crypto Morning Briefing: Mastercard Teaming With Solana, Polygon on New Crypto Credential Standards

Visa to Develop Brazilian Blockchain-powered CBDC Project; PayPal Extending Crypto Transfers to More Than 60 Million Venmo Customers

Visa to Develop Brazilian Blockchain-powered CBDC Project

The payments giant Visa has unveiled a new blockchain and central bank digital currency (CBDC) project in Brazil. Per the Brazilian media outlet Livecoins, the firm was selected by the Brazilian central bank to “explore” “innovative” on blockchain technology-powered “usage cases” for the prototype digital real.

Brazil Judge Orders Temporary Suspension of Telegram

A federal judge in Brazil has ordered a temporary suspension of messaging app Telegram, citing the platform's alleged failure to provide all information requested by Federal Police on neo-Nazi chat groups. The judge also increased the daily fine for non-compliance to 1 million reais (about $200,000). The move is part of the country's push against a rise in school violence. Brazil's federal government has been striving to stamp out school violence with a particular focus on the supposedly nefarious influence of social media. Regulation of social media platforms was a recurring theme during a meeting earlier this month between President Luiz Inácio Lula da Silva, his ministers, Supreme Court justices, governors, and mayors.

Brazil's President Lula Voices Support for BRICS Currency

Brazil’s president, Luiz Inacio Lula da Silva, has expressed support for the creation of a BRICS currency. His statement of support comes as the BRICS bloc is gaining global influence, with 19 countries seeking to join the group.

Russian Foreign Minister Sergey Lavrov Explains 'Multipolar' World View in Brazil

Russian Foreign Minister Sergey Lavrov has started a tour of Latin America, meeting with high-level officials in Brazil to discuss energy and economic affairs. Lavrov emphasized Russia's commitment to building a "multipolar" world and finding solutions to the Ukrainian conflict that conform to this policy. Brazilian Foreign Minister Mauro Vieira rejected the unilateral sanctions enacted against Russia, stating that they have a negative impact on economies around the world. Russia secured the provision of fertilizers to Brazil and Brazil will increase its exports of meat to Russia, helping the country in its efforts to substitute products affected by sanctions. Lavrov's tour will also include visits to Venezuela, Nicaragua, and Cuba to strengthen cooperation and economic integration between countries in the region. (

De-Dollarization: China, Brazil Can Be Instrumental in Building Less Centralized World With No Hegemony, Says Lula's Adviser

Brazil’s President Luiz Inacio Lula da Silva’s chief adviser on foreign policy, Celso Amorim, says China and Brazil “are coming closer together” and they could play important roles in building a less centralized world with no hegemony. Commenting on de-dollarization, he stressed: “I think it’s very important that we are free from the dominance of one single currency because sometimes it is used politically.”

Brazil and China Deepen Trade Integration to Move Away From US Dollar, as First Yuan-Based Settlement Is Processed

Brazil and China have reached a milestone in their economic integration, as the first bilateral settlement in Chinese yuan was completed ahead of the visit of President Luis Inacio “Lula” da Silva to China.

Twitter Clashes With Brazil Over School Violence Posts

Twitter is facing condemnation in Latin America’s largest economy for its laissez-faire approach on content suspected of inspiring violence in schools. 

Brazil's President Lula Urges Developing Countries to Abandon Dollar as Global Reserve Currency

According to Brazil’s president Luiz Inácio Lula da Silva, developing countries should abandon the U.S. dollar and strengthen their own national currencies. During a speech at the New Development Bank in Shanghai, Lula expressed his nightly pondering: “Why do all countries have to base their trade on the dollar?”

Brazilian Blockchain and Cryptocurrency Legislation

Brazilian legislation does not presently include Cryptocurrency-specific tax rules. Nonetheless, the Brazilian tax authorities publish several Questions and Answers that make it clear that Cryptocurrencies must be reported on tax returns and that any profits made from selling them are taxable as capital gains.