Why is Brazil positioning itself as an emerging power in the global economic landscape?

During the Consensus 2023, CoinDesk's annual conference held in April 2023, the largest digital economy event in Austin, Texas (USA), it became clear that the Brazilian crypto ecosystem is on the rise and receiving international recognition.

While the American market faces a challenging period with signs of regulatory tightening, Brazil has been making significant progress in regulatory advancements and collaboration between players and regulators.

The Legal Framework for Cryptocurrencies in Brazil brings benefits such as legal certainty, innovation stimulation, financial inclusion, attraction of foreign investments, development of the financial sector, and combatting financial crimes.

The regulation allows for greater security for investors, fosters technological innovation, facilitates access to financial services, attracts investments, integrates the cryptocurrency market into the traditional financial system, and contributes to combating money laundering.

Furthermore, the Central Bank of Brazil is developing its own Central Bank Digital Currency (CBDC., encouraging collaboration from the crypto community, especially by announcing the interoperability of the CBDC.with EVM, which allows integration with other blockchain networks.

Brazil is a country with a vast active mobile telephony network, making it the 5th country in the world in terms of smartphone users.

Additionally, the country has a young and connected population that is increasingly interested in innovative and accessible financial solutions. Currently, the country has over 118 million people actively using smartphones.

All of this contributes to consolidating Brazil as a promising market for the crypto industry, with Brazil positioning itself as an emerging power in the global crypto landscape.

It is a clear opportunity for entrepreneurs and regulators to further enhance the local crypto environment and attract financial and intellectual capital to the country.