WAO ART #449

There are no official statistics on how much Brazilians are using cryptocurrencies and stablecoins in their day-to-day lives, but data from global players and some of the latest moves of local fintech companies indicate that this behavior is getting increasingly common.

Head of Deutsche Bundesbank urges central banks to adopt digital currencies quickly. Traditional banking models are being threatened by a shifting landscape. Joachim Nagel emphasizes the need to revise business models and utilize distributed ledger technology (DLT).

Lack of enforcement undermines EU crypto regulations, according to observers. Becoming a licensed entity creates additional problems and restrictions. Stablecoins and other forms of money operate without close regulatory scrutiny.

Hong Kong's financial regulator, HKMA, is collaborating with industry representatives to explore asset tokenization. The Project Ensemble Architecture Community will oversee and support the development of tokenization projects in Hong Kong. The initiative aims to promote interoperability among wCBDCs used by banks.

Maincard.io CEO and Founder Valerii Makovetskii is looking forward to discussing blockchain technology at the SBC Summit North America. The summit provides networking opportunities, valuable insights into industry trends, and a platform to showcase Maincard.io's products.

Australia's Tax Office (ATO) is tightening rules for crypto exchanges to crack down on potential tax evasion in the crypto sector. The ATO is seeking client data from cryptocurrency exchanges to identify traders who have failed to report crypto transactions for tax purposes.

Nigeria plans to ban Naira peer-to-peer transactions due to negative impacts on the local currency. New regulations for crypto exchanges and related sectors will be introduced in the coming days. The Naira has lost 65% of its value against the US Dollar, prompting the government's actions.