Bitcoin News Is Not For Sale

Please don’t skip this message — it only takes a few minutes to read. Sorry to bother you, but time is running out.

Bitcoin is freedom. If you think independent media that is bitcoin-only is important, if you believe information and education about bitcoin matters for adoption, and if you have gained something from our work, we would be grateful if you could chip in $21. 

Join the 2% of our readers who occasionally make a donation. If everyone reading this donated just $21, we would reach our target in a couple of hours. $21 won’t break you, we hope.

To cover the cost for our servers, editors, writers, and thumbnail artists we rely on our readers’ generous support. 

How You can chip in:

  • Send a Sats as a tip to a writer. Each and every one of our writers has an active tipping widget.

  • Join our campaign on Awesome perks are waiting for you such as the Bukele Blend Coffee.

Your support ensures that Bitcoin News stays independent with a laser focus on Bitcoin and only Bitcoin.

Funding Progress

Brazil’s President Bolsonaro and Central Bank Clearly Differ on Crypto Adoption

written by

Support free journalists: > send a tip

Brazil’s cryptocurrency uptake may not have been helped by the country’s new president Jair Bolsonaro who seems to know absolutely nothing about crypto. But his head of banking clearly does.

“I don’t know. Is it a coin?” Brazil’s new leader recently asked, when Bitcoin was put to him. However, his administration has taken up previous president Michel Miguel Elias Temer’s lead, who, when in office, had proposed a cryptocurrency which could be used by Brazil’s unbanked indigenous population.

Although Temer was officially Brazil’s most unpopular president whose term presided over corruption, his proposed so-dubbed BNDES token seemed like a step in the right direction. On taking up his new office, far right winger President Bolsonara made his views crystal clear:

“We are cutting expenses. We were about to use 40 million Reales to teach natives to use bitcoin.”

That project, brainchild of the National Indian Foundation (Funai) and the Fluminese Federal University, was vetoed by Brazil’s Ministry of Human Rights, Family, and Women in January,

Roberto Campos, the Central Bank of Brazil’s number one has clearly, unlike Bolsorano, spent some time at least investigating cryptocurrencies and their functions, also commenting in a letter to the Brazilian Senate to suggest that this future market could well include blockchain and digital assets at some level:

One of the contributions I hope to bring to the Central Bank is to prepare the institution for the future market, where technologies advance exponentially, generating more rapid transformations.”

Earlier this month, the President of the Chamber of Deputies of Brazil issued an order to establish a commission that would study cryptocurrency regulation in the country. Last May, the Brazilian Internal Revenue Service put up new tax rules for crypto, which makes it mandatory to report transactions worth over BRL 30,000 (USD 7,600) every month.


BitcoinNews is committed to unbiased news and upholding journalistic codes of ethics. For more information please read our Editorial Policy here.

Follow BitcoinNews on Twitter: @bitcoinnewscom

Telegram Alerts from BitcoinNews:

Image Courtesy: Pixabay

Help spread this article :) is NOT INVESTMENT ADVICE

Opinions expressed are entirely their own and do not necessarily reflect those of

For informational purposes only. Individuals and entities should not construe any information on this site as investment, financial, legal, tax, accounting or other advice. Information provided does not constitute a recommendation or endorsement by to buy or sell bitcoin, cryptocurrencies or other financial instruments. Forecasts are inherently limited and cannot be relied upon. Do your own research and consult a professional advisor. The opinion of authors do not reflect those of 


Read More Bitcoin News


Join our Newsletter


Latest on Bitcoin News

Video of the Week

Join our Newsletter