Brazilian Crypto Market Trends 2022

August 25, 2022

In the process of discussing the regularization of cryptocurrencies, the largest economy in Latin America and the fifth largest global cryptocurrency market, in 2022, Brazil reaffirms itself as one of the hottest crypto markets in the world.

by Getty Images

When dealing with the cryptocurrency market, Brazil is recognized as one of the hottest markets and undoubtedly the most prominent in Latin America, including being the largest economy on the continent. The country is positioned as the 7th largest crypto market in the world, studies point to an index of 7,7% of the population, that is, 16 million cryptocurrency investors, behind only the USA, India, Russia, and Nigeria. (Sugeri alterar os dados para manter alinhado com os dados nas landing pages)

One of the most prominent factors, capable of further enhancing the use of this market potential, is related to the development of specific legislation to regulate the cryptocurrency sector. In the Chamber of Deputies, bill 2.303/15 indicates creating a regulatory and supervisory body for exchanges that seek to develop their activities in Brazil.

In this way, investors will be able to operate with a greater margin of safety with exchanges, the indicators do not suggest a regulation of the value of coins, but rather to curb any types of criminal actions. This type of regulation has enormous advantages, as it is possible to create a more favorable environment for investors and enterprises in the sector. In addition, with higher yields, a certain portion of these revenues can be invested in security and innovation solutions, job creation, products, and services - this indicates the development and strengthening of an ecosystem supported by crypto-assets.

The paths point to an increasing approximation between traditional markets and the structures of the digital economy, as is already the case with investment in cryptocurrencies through ETFs. As well as the alignment between banks and exchanges will be feasible, with the improvement of digital wallets, integrating them with crypto assets, in addition to the development of services and products in the sphere of tokenization.

The regulation will offer the necessary legal certainty to meet the challenge of popularizing the crypto universe, allowing cryptocurrencies to be accepted as a form of payment in everyday activities, increasing its reach to a multitude of people, many of them interested not only in owning the asset as a basis for investment.

...its city hall had already announced its interest in allowing the payment of taxes with Bitcoin, offering discounts to the taxpayer. (...) While the Central Bank evaluates the opportunity to create Real Digital.

Rio de Janeiro is a Brazilian city that seeks to run ahead in the development of an ecosystem based on cryptocurrencies, its city hall has already announced its interest in allowing the payment of taxes with Bitcoin, offering discounts to the taxpayer. And, in March 2022, it authorized the receipt in Bitcoin for the payment of real estate taxes, becoming the first Brazilian city to do so. While the Central Bank evaluates the opportunity to create Real Digital.

With this, Brazil strengthens its position as a significant consumer market for cryptocurrencies, seeking to develop its regulatory bases to exploit its economic potential to the fullest, integrating it with crypto assets and the resources offered by the digital economy. With the necessary legal certainty, cryptocurrencies will access the daily lives of a greater part of its population, the suspicions that still exist will be more easily overcome and the Brazilian crypto ecosystem will become even more attractive.