Governor of the Central Bank of Brazil: Disagree with strict supervision of encrypted assets

[President of the Central Bank of Brazil: Do not agree to strict supervision of encrypted assets] According to news on August 12, Roberto Campos Neto, Governor of the Central Bank of Brazil, said at an encryption-themed conference that due to the open financial system (the Central Bank of Brazil will start to implement in 2021 ) development, credit cards will soon cease to exist. The Open Financial System enables users to solve various problems in their financial life through an integrated app on their mobile devices.

Additionally, Neto stated that he does not agree with strict regulation of crypto assets, but highlighted concerns about excessive concentration of custody, as four firms currently hold 80% of crypto assets. (Reuters)

Other news:

Governor of the Central Bank of Brazil: Digital currency does not need to pay interest: Governor of the Central Bank of Brazil: The issuance of digital currency will be centralized, but it may not be centralized custody, and digital currency does not need to pay interest. The impact of digital currencies on bank balance sheets is still under discussion. Digital currencies are part of a global movement. Brazil is seeking international cooperation to allow cross-border payments. (Golden Ten) [2021/6/30 0:18:05]

Brazil's central bank cuts benchmark interest rate by 75 basis points to 3%: Brazil's central bank lowered benchmark interest rate by 75 basis points to 3%, after market consensus expected a 50 basis point rate cut. [2020/5/7]

News| Banks in Brazil will integrate the blockchain identity solution jointly developed by IBM and the Central Bank of Brazil: According to Cointelegraph, banks in Brazil will adopt a new standardized blockchain identity solution provided by the Hyperledger Fabric platform support. According to reports, the identification solution jointly developed by IBM and Brazil's central bank CIP will be integrated into the Brazilian payment system (SPB), which is used by all banks and financial institutions in Brazil. [2019/6/3]