Brazilian funds might soon get the green light to invest in cryptocurrencies. A new draft bill by São Paulo MP Adriana Ventura aims to make this happen. The bill, now on the parliament’s website, seeks to address the rising interest from funds in crypto while keeping things safe and regulated.
Ventura believes this change will help funds spread their investments and boost Brazil’s status in the fast-growing Latin American crypto scene. Right now, Brazilian big investors can’t invest directly in crypto, even though Brazil has one of the largest retail crypto markets in Latin America.
The new law being proposed would allow funds that are registered in Brazil to buy crypto from licensed companies working in the country. It’s not clear if the bill will succeed, but Brazil’s friendly stance on crypto is growing stronger, especially with the high demand for no KYC verification casino crypto sites.
Regulators are also planning tax changes for crypto, expected to be revealed by early 2025. If the bill gets the nod, it could be a big move for major investors to embrace crypto in Brazil, helping the country lead in the Latin American crypto market.
What Makes Brazail One of the Leading Crypto Markets?
Brazil stands out as a key player in the world of crypto. With a mix of tech-savvy youth and a growing interest in digital coins, the country is ripe for growth in this space.
One major factor is the rise of fintech. Many young firms are popping up, offering easy ways to buy, sell, and trade crypto. These firms use user-friendly apps, making it simple for anyone to get started.
Another point is the high inflation rate. Many Brazilians see crypto as a safe bet against the devaluation of their money. This has led more people to invest in Bitcoin (BTC) and other virtual assets, viewing them as a form of wealth protection.
Regulation also plays a role. The Brazilian government has started to create clearer rules for crypto. This gives both users and firms more trust in the market. With more clarity, big crypto firms are more likely to invest in Brazil.
South Korean Crypto Exchange Numbers Drop to 26%
South Korea’s crypto exchange market is shrinking, with new data showing fewer registered virtual asset firms since 2024. A report from the Financial Intelligence Unit released on February 7, 2025, states there are only 31 registered crypto firms now, down over 26% from 42 in 2024.
The firms that have been removed include GDAC, ProBit, Huobi Korea, and Bitrade. The report notes that many of these exchanges were token-only platforms that struggled without fiat support.
Besides business challenges, many platforms did not renew their licenses, causing them to be removed from the national list, the report states. Token-only exchanges, lacking real-name bank accounts, have faced issues for some time.
Without fiat options like the U.S. dollar or Korean won, these platforms find it hard to draw in users. The FIU report reveals that ‘over 90% of these exchanges faced total capital loss last year’. Many, such as Qubit and Coinbit, ended up closing down.
The report also warns that the number of crypto exchanges in South Korea could fall even more. Some firms still on the list have said they plan to leave, while others are looking to move their focus to foreign markets because of unclear rules.
What Causes the Drop in the Number of South Korean Crypto Exchanges?
South Korea has seen a fall in its crypto exchange numbers, raising questions about the future of digital coins in the country. One big reason is the clampdown from the government. Officials have put strict rules on exchanges to improve safety and cut fraud.
While these rules aim to protect users, they also make it harder for new firms to start up. Another factor is the market slump. Prices for many coins have dropped, leading to less trading activity. When values fall, traders often lose interest, which hits the exchanges hard.
Changes in public trust also play a role. After some high-profile scams and hacks, many users feel less safe. With trust shaken, more people are pulling back from using exchanges.
Despite the rising challenges in the crypto space, many users, including players of no KYC verification casino crypto sites are hoping for a better future. They believe that these challenges will help the market grow, helping the crypto industry thrive.
