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Head of Brazilian Central Bank Announces CBDC Test Launch

Head of Brazilian Central Bank Announces CBDC Test Launch

Roberto Campos Neto, governor of Brazil’s Central Bank, announces that Brazil is going to launch a digital currency pilot in the second half of 2022.

The upcoming CBDC pilot will be held up according to Brazil’s national fiat system, and it will have a limited supply and production. Further in the announcement, Roberto Campos Neto expresses his belief in crypto more as a thing to invest in rather than an outright payment method, but he says that this factor could change once crypto becomes a more widespread sensation among the general public.

Furthermore, Brazil filed a bill in late February aimed to have better control over the crypto market. The creation of this bill has been going on for around 4 years, and it defines what qualifies as a virtual asset, a broker, or an exchange.

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