Cryptocurrencies in Brazil May Soon be Regulated to Help Market Flourish

Brazil is one of the biggest cryptocurrency markets in Latin America accumulating a volume of transactions for the first half of 2019 of 158,198 BTC, equivalent to more than R$3.7 billion.

SÃO PAULO, BRAZIL – The surge of cryptocurrencies has reached South America’s largest nation. Brazil today is the world's fourth largest in volume of transactions, and experts say regulating these types of currencies could reflect on gains to investors.

“Regulation is a catalyst for adoption (of cryptocurrencies) and I believe there will be a positive effect,” Juliana Assad, computer security specialist and co-founder of Coinwise in São Paulo, told The Rio Times.

With an eye on this new type of transaction, Brazil’s Congress has started to discuss the regulation of cryptocurrencies.

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