Four individuals allegedly involved in hacking the cell phones of Brazil’s Justice Minister Sergio Moro regularly used Bitcoin (BTC) and other cryptocurrencies, Cointelegraph Brazil reported on July 25. On July 23, the Federal Police of Brazil arrested four individuals who allegedly hacked Moro’s cell phones while he was acting as a judge in the Operation Car Wash case involving former President Luiz Inácio Lula da Silva. Operation Car Wash is a major criminal money laundering investigation initiated by Moro, which further expanded to allegations of corruption at major Brailizan petroleum firm Petrobras. Political parties subsequently found themselves implicated into the …

Blockchain consortium R3 has partnered with Brazilian fintech company Banco Maré to launch a stock exchange for investing in technology firms. Banco Maré, a blockchain-powered digital bank focused on financial inclusion, intends to build a tokenized stock exchange offering investments in technology companies with social impact, Cointelegraph Brazil reports July 16. The new R3 technology-backed platform, provisionally named BVM12, will purportedly open a new funding source for technology startups, as well as enable individual investors to generate dividends from investments in new technologies, the report notes. Reportedly, Rio de Janeiro-based Banco Maré has conducted its first informal consultations with the …

Luiz Philippe de Orleans-Braganza, a descendant of the former royal family of Brazil, has spoken out against cryptocurrency regulation in the country, Cointelegraph Brazil reported on July 15. Orleans-Braganza, who is also a federal deputy in the Brazilian National Congress, spoke out during a special commission meeting wherein lawmakers discussed a bill that proposes a legal framework for digital currencies. Orleans-Braganza said the bill should only be discussed in the Congress if there is high consumer demand for it. Otherwise, according to Orleans-Braganza, it is merely an example of the state intervening in something which is not its business: "Good …

In Brazil, the state of Bahia has launched a blockchain application to track the process of public bidding on government contracts, according to a report by Cointelegraph Brazil on July 12. The blockchain-based solution, called Online Bid Solution (SOL), was reportedly developed by Cayenne Technology and Design. Bids will reportedly be completely transparent and secure due with the application of blockchain tech. According to Bahia government, the intended beneficiaries of SOL appear to be the Brazilian agriculture industry. The solution is designed to help connect agriculture organizations in Bahia with suppliers and workers throughout Brazil, as well as provide transparency …

Brazilian coffee farming cooperative Minasul plans to issue a coffee-backed token, Bloomberg reported on July 11. According to Bloomberg, Minasul’s president Jose Marcos Magalhaes declared at the Global Coffee Forum in Campinas that Minasul intends to launch the token this month. Farmers will reportedly be able to use the coin to buy fertilizer, machinery and other non-farm products — including cars and food — in a digital marketplace. Per the report, farmers will also be able to acquire the token in exchange for current and future coffee beans production: 30% of the current harvest, 20% of the next crop, and …

The Brazilian diplomatic academy, the Rio Branco Institute, will now require that candidates have knowledge of cryptocurrencies and blockchain, Cointelegraph Brazil reported on July 8. The Rio Branco Institute — established in 1945 and offering two advancement courses for diplomats — has published the 2019 edict for the selection of new diplomats in Brazil where it included the requirement that candidates know about blockchain and digital currencies. As the publication highlights, the subject is mandatory for the test that is initially delivered in two phases, wherein knowledge about blockchain and cryptocurrencies is mandatory in both phases. The notice states that …

Brazilian cryptocurrency exchanges are rolling out support for a stablecoin, according to a report by Cointelegraph Brasil on June 26. Brazilian platforms including PagCripto, Nox Trading, 3xBit, and Bitcambio, are reportedly slated to be the next adopters to issue this new stablecoin — pegged one-to-one with the Brazilian real — Real-T (REALT). As explained in its whitepaper, the “Real-T Token” is an Ethereum-based ERC-20 stablecoin that is “strictly pegged” to BRL. The paper claims that the company behind the token, Real-T Tecnologia S.A., will publicly share its bank statement to provide evidence for full backing of Real-T in fiat money. …

On June 18, Brazil’s National Bank for Economic and Social Development (BNDES) announced the election of Finance Director José Flavio Ferreira Ramos as its interim president. Ramos will serve as the BNDES head until the inauguration of 38-year-old Gustavo Henrique Moreira Montezano, a former economist and the current deputy secretary of privatization and disinvestment. Montezano’s appointment followed two meetings on June 17 between Brazilian President Jair Bolsonaro and the country’s minister of the economy and former economic advisor to Bolsonaro’s presidential campaign, Paulo Guedes. The meetings were held in response to the sudden departure of the bank’s now-former president, Joaquim …

Brazil’s weak economic growth and inflationary pressure have led to more than 13 million Brazilians currently out of work. The unemployment rate currently stands at 12.5%. While the country runs the risk of recession, cryptocurrency’s low barrier for entry and promise of large returns appeal to Brazilians. Bruno Peroni, chief sales officer at Atlas Quantum, told Cointelegraph: “We have a higher number of people investing in crypto than on the local stocks markets. The most recent estimates show that there are 1.5 million Brazilians investing in crypto, whereas the local stock markets, called B3, has just reached 1 million investors.” …

The Department of Federal Revenue of Brazil (RFB) has released new rules requiring that cryptocurrency exchanges inform the regulator about users' transactions in order to identify tax fraud, Cointelegraph Brazil reported on June 19. The guidelines clarify how cryptocurrency trading platforms in Brazil should adopt new rules to report about the movements of users' crypto funds to the agency, and comply with the requirements of Normative Instruction 1.888/2019 published in May of this year. Specifically, the agency requires that cryptocurrency exchanges operators based in Brazil provide information about all transactions carried out within their system, while those platforms based abroad …

Fintech firm Token has received a $16.5 million injection from investors including the venture arm of banking giant BNP Paribas, a news release announced on June 18. The self-described open banking platform says it will use the capital to further develop its TokenOSTM operating system — and “accelerate new ways of innovating payments with digital money and ID solutions.” According to the company, its ecosystem enables banks, customers and developers to complete transactions securely, instantly and with less friction. Token claims more than 4,000 banks have connected to its platform, with Mastercard recently coming on board as a partner. Steve …

Clientele from multiple states in Brazil have filed lawsuits against bitcoin (BTC) investments firm Bitcoin Bank Group for inaccessible crypto funds, according to a report by Cointelegraph Brasil on June 18. The lawsuits are reportedly over issues with users being unable to withdraw funds from the BBG’s associated cryptocurrency exchange, Paraná-based NegocieCoins. As of press time, the page for NegocieCoins on crypto market information website CoinMarketCap shows the following message regarding the ongoing issue: “We have received reports that user deposits and withdrawals are impeded. Please be careful with your funds.” Some customers unable to withdraw their funds are attempting …