The two cryptocurrency exchanges, Binance and Coinbase CEO had scheduled to meet with Brazil’s Central Bank president Roberto Campos Neto over the past few days.
The Portal Do Bitcoin, a Brazilian publication spotted an official agenda showing a video conference scheduled between Campos Neto and three executives of Binance on Friday afternoon, institutional matters were the topic of discussion.
CEO of Binance, Changpeng Zhao, vice president of government relations, Latin America, Daneil Mangbeira and vice-president of global expansion Matt Schroder, were the attendees of the meeting. but the nature of the meeting was not revealed as it was closed to the press.
The publication further spotted that Brian Armstrong, Coinbase CEO, and two more other company executives had a video conference scheduled today along with Campos Neto, which is again hidden from the public. The Agenda of the meeting was to present the macroeconomic scenario of the participants.
Well! the Coinbase and Binance is now ready to acquire the Brazilian companies, and to expand the region further. Coinbase interacted with Mercado Bitcoin parent 2TM about the expansion deal, but the talks failed as reported by the Bloomberg reporter this month.
In response to the expansion deal, Coinbase hired a new manager for the Brazilian country. Fabio Tonetto Plein who joins the crypto company with previous management experience at PicPay and Uber.
On the other hand, Binance would explore the acquisition of Brazilian securities brokerage Sim;paul Investimentos, regarding which Binance made an announcement in mid-march.
After following the years of deliberation the meetings come as a proposed crypto regulation bill has finally gained momentum with the Brazilian lawmakers. The bill must be further passed by Brazil’s lower house before it gets voted on by president Jair Bolsonaro.
The Bill helps Brazil’s executive branch to decide on the government entity to regulate the crypto companies. Brazil’s Central Bank may take the charge further, as reported by Iraja Abreu.
The Brazilians now have greater options to trade crypto as additional exchanges came into the market and even the banks started accepting the cryptocurrency. As the fewer announcements seen in progress.
Fintech unicorn Nubank announced that it would work with Paxos to provide bitcoin and other trading options to its customers, and Bybit exchange had also launched in Brazil recently.
The broker XP has also announced that it would work with Nasdaq to provide the new digital asset platform for Brazilian customers. The investment bank BTG Pactual also seems to launch its crypto trading platform Mynt, as the Bank CEO Roberto Sallouti said on May 9, about the new tool getting ready within two months of a period.
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Source: https://coinpedia.org/regulations/top-crypto-exchange-ongoing-video-conferences-interest-in-brazilian-crypto-expansion/