Hello, everyone. I hope you are doing well. My name is Lucky Ali, and this is another crypto blog. Brazil is always hot in crypto because, as we have seen many times, it takes one step back and one step forward with cryptocurrency. Regarding last week's update, many people criticized Brazil's stance on stablecoins.
The national high court decided that crypto should be seized that is used to pay off debts, and this happened last week. It is overturning the previous decision in which it was decided that the seizure of crypto assets would endanger the privacy of borrowers. You can see how quickly the decision can be changed.
Crypto takes a new step towards becoming money in Brazil
Talking about this decision, it is unfortunate for some, and it shows the importance and the value of cryptocurrency in the eyes of the public. In the end, it is free crypto promotion.
Talking about this particular decision, it helps crypto to be recognised as property. Not only this, but it brings crypto closer to money or equal to money because now, in the case of outstanding loans, it can be investigated that this particular thing provides more reputation to the cryptocurrency like money has. Anyone could be exposed who holds their digital assets on centralized exchanges.
This decision can help lenders
Whenever a crypto scam happens, this particular decision can help lenders if the crypto assets are held in the centralized exchanges and fund that holds in exchanges can be seized easily. So this is a tool to fight the effects that happen after crypto crimes.
Even after this, Brazil has to do a lot of things, and the battle is going on and talking about upcoming regulation that can make stablecoin illegal, and we can say it is sending away from decentralized innovations and initiatives.
So it is confusing, and that is why I said at the beginning of this article that Brazil is taking one step ahead and one step back. But it is also good that it is getting valuation like money in the brazil so in a way it is good. Sooner or later, crypto has to be replaced completely with fiat, and we are seeing the signs of it; this particular incident is also a big sign.
If you are indian, then forget about it because we adopt technology when everyone else already did, and we are always late to accept the technology because we choose leaders who do not understand the technology and future. So now, what is your opinion regarding this information? Let me know in the comment section, and also, share this post on social media. Stay tuned for more updates, and it is always better to follow me on Hive to access all my posts. Thanks.
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 | Hi I am lucky ali from gujarat, india. I am a crypto enthusiast, blogger, and SEO developer. I am always interested in learning new things and having new experiences. You can find me on hive, twitter and discord (Lucky Ali#6343). Sharing is caring. Thank you, hive family ♥ |