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Brazil’s President Lula Voices Support for BRICS Currency
27.4.2023
Brazil’s president, Luiz Inacio Lula da Silva, has expressed support for the creation of a BRICS currency. His statement of support comes as the BRICS bloc is gaining global influence, with 19 countries seeking to join the group. Brazilian President Lula Supports BRICS Currency Creation Brazilian...
US Treasury Secretary Janet Yellen Acknowledges Sanctions Weaponization Could Hurt Dollar Hegemony
17.4.2023
U.S. Treasury Secretary Janet Yellen talked about the dangers that sanctions based on the U.S. dollar might pose for the hegemony of the currency in international markets. According to Yellen, the government tries to use sanctions “judiciously,” as they can create a desire to find...
De-Dollarization: China, Brazil Can Be Instrumental in Building Less Centralized World With No Hegemony, Says Lula’s Adviser
17.4.2023
Brazil’s President Luiz Inacio Lula da Silva’s chief adviser on foreign policy, Celso Amorim, says China and Brazil “are coming closer together” and they could play important roles in building a less centralized world with no hegemony. Commenting on de-dollarization, he stressed:...
Brazil and China Deepen Trade Integration to Move Away From US Dollar, as First Yuan-Based Settlement Is Processed
15.4.2023
Brazil and China have reached a milestone in their economic integration, as the first bilateral settlement in Chinese yuan was completed ahead of the visit of President Luis Inacio “Lula” da Silva to China. The settlement, which was processed by the Industrial and Commercial Bank...
Brazil’s President Lula Urges Developing Countries to Abandon Dollar as Global Reserve Currency
13.4.2023
According to Brazil’s president Luiz Inácio Lula da Silva, developing countries should abandon the U.S. dollar and strengthen their own national currencies. During a speech at the New Development Bank in Shanghai, Lula expressed his nightly pondering: “Why do all countries have to base their...
Latam Countries Prepare Regional Agreement to Counter Rampant Inflation
4.3.2023
A group of countries in Latam is preparing a regional agreement to address inflation, a problem common to most nations in the region. The initiative, which is being spearheaded by Mexican president Andres Lopez Obrador, would allow the exchange of products with high prices between the states...
Brazilian Government Preparing New Decree to Clarify Cryptocurrency Rules
18.2.2023
The Brazilian government is preparing to release a decree to fill the blank spaces that the recent approval of the cryptocurrency law has left open. The document, prepared by the Ministry of Finance, will establish the areas of oversight and responsibilities for the Central Bank of Brazil and...
Opinion: Have Brazil’s Lula and Argentina’s Fernandez heard of cryptocurrency?
31.1.2023
Brazil’s Luiz Inácio Lula da Silva and Argentina’s Alberto Fernández want to create a “common currency.” It sounds suspiciously like a state-controlled cryptocurrency
Latam Common Currency to Focus on Settlements Among Mercosur and BRICS Countries
25.1.2023
President of Brazil Luis Inacio Lula Da Silva clarified the scope and reach of the common currency that Brazil and Argentina are studying to issue in Latam. Lula Da Silva clarified that he believed this currency would be used to settle cross-border payments between the two countries and also...
Brazil and Argentina to Start Working on Creation of Latam Common Currency
24.1.2023
Brazil and Argentina are looking to begin work on the issuance of a common currency. Sergio Massa, minister of the economy of Argentina, also stated that the two countries will be inviting other nations in the area to join this economic integration project in the future. Brazil and Argentina...
Brazilian Cryptocurrency Law Likely to Be Reviewed by Lula’s Government
12.1.2023
The recently approved Brazilian cryptocurrency law will likely be reviewed and revised by the newly inaugurated government of Luis Inacio “Lula” Da Silva. According to statements made by the former rapporteur of the law, Expedito Netto, the new government will likely review the law...
President of Brazil Sanctions Cryptocurrency Law
23.12.2022
President Jair Bolsonaro has approved law 14.478, which regulates cryptocurrency-related operations and virtual asset service providers (VASPs) in Brazil. The document, approved on the last day of the period allowed, will begin to be applied 180 days after its sanction. This will give all parties...
Cryptocurrency Law Approved in Brazil — Green Mining Tax Exemptions and Asset Segregation Issues Left Out
1.12.2022
A cryptocurrency law, which had been in discussion for several months, has been approved by the Chamber of Deputies in Brazil after having shed some of the changes presented by the Senate. The proposal left out two planned tax exemptions for green mining operations and the issue of segregating...
Venezuelan President Nicolas Maduro Signals Support for Single Currency in Latam, Calls for Crypto Inclusion
22.11.2022
Nicolas Maduro, president of Venezuela, has expressed his support for the adoption of a new common currency for Latam in the latest meeting of the Workgroup of the Sao Paolo Forum. Maduro stated that this would be an important step for the construction of a common economic space, that would also...
Relaunch of USAN — the Union of South American Nations — in Latam Profiles New Monetary Integration
16.11.2022
A proposal for relaunching the currently defunct USAN, the Union of South American Nations, profiles a future monetary integration amongst the countries of the organization. The proposal, made by several former presidents of countries in Latam, reinforces the need for regional integration...
Victory of President-Elect ‘Lula’ in Brazil Might Bring the Rise of a Common Currency for Latam
1.11.2022
The victory President-Elect Luis Inacio Lula Da Silva obtained on Oct. 30 over the incumbent Jair Bolsonaro in Brazil might open the gates for the proposal of a single currency for the countries of Latam. Lula announced this as part of his campaign, preaching the utility of a common currency as...
Luiz Inácio Lula da Silva wins Brazil's presidential race — what does this mean for crypto?
31.10.2022
The future president reportedly said that cryptocurrencies “deserved the attention of authorities,” calling for Brazil’s central bank to create a framework for digital assets
Brazilian Presidential Candidate ‘Lula’ Da Silva Signals Support for Central Bank of Brazil Involvement in Crypto Regulation
6.10.2022
The presidential candidate that obtained most of the votes in the first Brazilian ballot round, Luis Inacio Da Silva, better known as “Lula,” declared that the Central Bank of Brazil should be responsible for building a cryptocurrency law framework. Lula also stated that the impact...
Proposals for New Common Currency Resonate in Latam, to Undermine US Dollar Dependency
16.8.2022
Two new proposals for a new common currency to be established in Latam have been made recently. Former Brazilian president and candidate Luis Inacio Lula Da Silva mentioned the idea in May, and the president of the Colombian Congress, Roy Barreras, mentioned the same idea during the inauguration...