Brazil’s central bank has classified stablecoin transactions as foreign exchange operations in a major regulatory shift. The move comes alongside new legislation that would allow authorities to seize virtual assets during criminal investigations. These developments represent Brazil’s most significant crackdown on crypto-related financial crimes to date, reflecting growing concerns about money laundering and tax evasion in Latin America’s largest digital asset market.
about Brazil Regulates Stablecoins as Foreign Exchange OperationsCentral Bank of Brazil
0 in Finance and 0 in Crypto last weekBanco Inter & Chainlink Test Cross-Border CBDC Trade
Brazilian digital bank Banco Inter has successfully completed a landmark blockchain pilot for cross-border trade finance with Chainlink, marking a significant advancement in international financial infrastructure. The test connected Brazil’s Drex CBDC network with Hong Kong’s Ensemble platform, demonstrating how distributed ledger technology can streamline international settlements between different jurisdictions and digital currency systems, with Chainlink providing the critical interoperability infrastructure that enabled seamless cross-border transactions.
about Banco Inter & Chainlink Test Cross-Border CBDC TradeZachXBT Traces $140M Brazilian Bank Hack, Slams Circle
ZachXBT revealed his involvement in investigating a cyberattack targeting Brazilian banks, where a breach at C&M, a Central Bank of Brazil services provider, exposed reserve accounts. Attackers moved stolen fiat into crypto, with ZachXBT manually tracing the theft by analyzing exchange volume spikes and wallet outflows. While $140 million was reportedly stolen, only $40 million entered crypto markets, with $5 million frozen across platforms like Tether, Binance, and Chainalysis. ZachXBT criticized Circle for its lack of industry collaboration, calling its leadership indifferent. A developer alleged an insider sold access credentials for $3,000, enabling the breach. ZachXBT warned losses could rise as more funds are traced.
about ZachXBT Traces $140M Brazilian Bank Hack, Slams Circle$100M Hack Targets Brazil’s Central Bank via PIX System
A cyberattack on Brazil’s Central Bank resulted in a $100 million theft via the PIX instant payment system, facilitated by compromised credentials allegedly sold by a C&M employee. Authorities arrested João Roque, who reportedly provided access to hackers, enabling fraudulent transactions in a single night. Police are tracking the perpetrators and have frozen half of the stolen funds, while C&M denies system flaws, attributing the breach to credential misuse.
about $100M Hack Targets Brazil's Central Bank via PIX System$140M Brazil Bank Hack: Bitcoin Used as Exit Route
A massive $140 million hack targeting Brazil’s PIX payment platform has exposed critical vulnerabilities in the banking system. The breach began when an IT worker at C&M Software sold his login credentials for just $2,770, allowing hackers to drain reserve accounts from six institutions. Nearly $40 million was converted into Bitcoin, Ethereum, and stablecoins through Latin American OTC desks, underscoring crypto’s role in money laundering. While authorities have recovered $50 million and arrested the insider, significant funds remain missing. The incident highlights the need for stronger insider controls, faster fraud detection, and tighter crypto oversight in Brazil’s financial infrastructure.
about $140M Brazil Bank Hack: Bitcoin Used as Exit RouteBrazil Central Bank Boosts FX Interventions to Strengthen Real
The Central Bank of Brazil has stepped up its foreign exchange interventions, selling $1 billion in a spot dollar auction while simultaneously executing a reverse swap sale of the same size. This dual approach allows the bank to offload physical dollars and reduce its $103 billion short dollar position in FX swaps. Analysts interpret these measures as part of a broader strategy to stabilize the real and discourage speculative arbitrage trades, signaling a more active role in managing currency fluctuations.
about Brazil Central Bank Boosts FX Interventions to Strengthen RealBelo Horizonte Moves to Become Brazil’s Bitcoin Capital
Belo Horizonte is positioning itself as Brazil’s ‘Bitcoin Capital’ with a new bill permitting residents to pay taxes and fees in BTC while encouraging businesses to accept crypto. The proposal, however, faces opposition from some city council members concerned about Bitcoin’s volatility and lack of regulation. Meanwhile, Brazil is advancing crypto adoption nationwide, with courts using NFTs for summons, the stock exchange launching ETH and SOL futures, and the central bank drafting stablecoin regulations by 2025.
about Belo Horizonte Moves to Become Brazil's Bitcoin CapitalBinance Receives Broker-Dealer License in Brazil After Acquiring Simpaul
Binance has received a broker-dealer license from Brazil’s Central Bank following its acquisition of licensed financial services firm Sim;paul. This approval positions Binance as the first crypto exchange with such a license in Brazil, enhancing its compliance capabilities amid ongoing regulatory developments globally. The move comes after significant legal challenges faced by the exchange’s founder and other executives, while Binance continues to expand its compliance team to support responsible growth in the crypto ecosystem.
about Binance Receives Broker-Dealer License in Brazil After Acquiring SimpaulBinance Becomes First Licensed Crypto Broker in Brazil
Binance has made history by becoming the first cryptocurrency exchange to secure a broker-dealer license in Brazil, allowing it to acquire the licensed broker-dealer Sim;paul. This regulatory approval from the Central Bank of Brazil marks a significant milestone for Binance, enhancing its position in one of the fastest-growing crypto markets globally. CEO Richard Teng emphasized the importance of compliance and innovation in bringing financial services to Brazil’s vibrant crypto community.
about Binance Becomes First Licensed Crypto Broker in BrazilChangpeng Zhao Predicts 2025 as a Major Year for Crypto Growth
Changpeng Zhao, the former CEO of Binance, predicts 2025 will be a “send it year” for the crypto market, fueled by a supportive regulatory environment and increasing institutional adoption. Analysts forecast significant price increases for Bitcoin and Ethereum, with targets of $150,000 and $8,000, respectively. Binance is also expanding its ecosystem, having received approval in Brazil for a broker-dealer license and planning investments in crypto, AI, and biotech sectors.
about Changpeng Zhao Predicts 2025 as a Major Year for Crypto GrowthBinance Acquires Broker License in Brazil Strengthening Local Crypto Presence
Binance has secured approval from Brazil’s central bank to acquire licensed broker Sim;paul, marking its 21st global compliance license and making it the first crypto exchange in Brazil to hold a broker license. This acquisition allows Binance to offer regulated services in a rapidly growing digital asset market, enhancing trust and compliance in Brazil’s crypto ecosystem. Additionally, Binance employs AI to bolster security, recovering $9 million monthly and blacklisting 47,000 suspicious addresses, reflecting its commitment to protecting users and the broader market.
about Binance Acquires Broker License in Brazil Strengthening Local Crypto PresenceBinance Secures 21st Regulatory Approval Expanding Presence in Brazil
Binance has secured its 21st regulatory approval from Brazil’s central bank to acquire Sim;paul, a licensed broker-dealer, enhancing its presence in Latin America’s crypto market. CEO Richard Teng highlighted this milestone as crucial for fostering crypto adoption in Brazil, which ranks 10th in global crypto engagement. The approval follows Binance’s recent successes in Argentina, India, Kazakhstan, and Indonesia, reflecting its commitment to compliance and security in expanding its services.
about Binance Secures 21st Regulatory Approval Expanding Presence in Brazil