Markets
Share this article

Brazil's Central Bank Tasks Group With Laying Out Road Map to Digital Currency Issuance

The 12-member team will submit their findings – and propose a CBDC issuance model – to the central bank in 180 days.

By Danny Nelson
Updated Sep 14, 2021, 9:47 a.m. Published Aug 24, 2020, 4:11 p.m.
(Jo Galvao/Shutterstock)
(Jo Galvao/Shutterstock)

Brazil, home to South America's largest economy and a bullish-on-fintech financial bureaucracy, is studying the benefits and challenges of issuing a central digital currency (CBDC).

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.

  • Banco Central do Brasil (BCB) established an intergovernmental CBDC study group on Aug. 20.
  • The 12-member team is tasked with investigating CBDC security risks, economic implications and societal benefits against Brazil's existing payments landscape.
  • The team will also evaluate CBDC issuance and even propose an issuance model for Brazil. A final report is due in to BCB officials in 180 days.
  • CBDC may "improve the current model of commercial transactions between people and even between countries," BCB said in a press statement, calling CBDC issuance "eventual."
  • Brazil's monetary policy makers are already moving to digitize payments in South America's largest economy. Pix, a central bank-run instant payments system, is coming online in November.

See also: Brazilian Financial Regulators Will Vet Companies and Political Appointees on a Blockchain

Central Bank of Brazildigital currencyCBDCCoinFlash

Higit pang Para sa Iyo

Small investors are buying bitcoin. For a rally to succeed, the whales need to join in.

Ni Shaurya Malwa|Edited by Sheldon Reback
32 minuto ang nakalipas
A tiny dollar bill held between thumb and forefinger

Small wallets have increased their BTC holdings by 2.5% since October's all-time high while large holders trimmed 0.8%, Santiment data shows.

Ano ang dapat malaman:

  • Bitcoin wallets holding less than 0.1 BTC have increased their share of supply to the highest since mid-2024 even as the price holds around the mid-$60,000s.
  • Larger holders with 10 to 10,000 bitcoins — the whales and sharks that typically drive major moves — have reduced their positions since the October peak.
  • The divergence supports choppy, fragile price action because retail demand alone cannot sustain rallies when big wallets are distributing into every recovery.
Basahin ang buong kwento