Crypto CEOs are courting Brazil’s central bank as legislation moves through National Congress - Aliens: AI Crypto News & Markets Updates
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Crypto CEOs are courting Brazil’s central bank as legislation moves through National Congress

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The Block

Mon, May 16, 2022

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Brazil’s central bank president Roberto Campos Neto had meetings scheduled with Binance and Coinbase executives over the past few days.

The meetings come as crypto companies and banks alike are launching products in the Brazilian market aimed at digital asset trading.

CEOs from two cryptocurrency exchanges were scheduled to meet with Brazil’s Central Bank president Roberto Campos Neto in the past few days, indicating that talks between industry and the government are ongoing even as the country waits for lawmakers to potentially approve a new crypto regulation law.

As spotted by Brazilian publication Portal do Bitcoin , an official agenda showed a videoconference scheduled between Campos Neto and three Binance executives on Friday afternoon to discuss “institutional matters.” Binance CEO Changpeng Zhao was listed as an attendee, along with vice-president of government relations, Latin America, Daniel Mangabeira and vice-president of global expansion Matt Schroder.

That publication also spotted that Coinbase CEO Brian Armstrong and two other company executives had a video meeting scheduled today with Campos Neto, also out of the public eye.

The bill gives Brazil’s executive branch the ability to decide on which government entity would regulate crypto companies, although rapporteur Irajá Abreu has told Bloomberg that he thinks that Brazil’s Central Bank would ultimately be in charge.

Meanwhile, Brazilians now have more options than ever to trade crypto as additional exchanges move into the market and even banks start embracing digital assets.

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