President of Brazilian Central Bank Meets With Binance Exchange Representatives About CBDC

Brazilian officials continue a bullish attitude toward crypto and digital assets.

By
Kyle Heise
on
August 18, 2021
Category:
Blockchain News

Video Meeting With Officials

The president of the Central Bank met with representatives from Binance in a videoconference to discuss the South American country’s efforts in developing a Central Bank Digital Currency (CBDC) and institutional matters.

The meeting held on Monday, August 16 at 14:00 UTC included several figures in crypto and technology alongside Central Bank President Roberto Campos Neto. The meeting featured Jeremy Allaire, CEO of Circle Payments, and also listed Brian Brooks, ex-president of Binance.us. Brooks was likely substituted with another member of Binance following his departure on August 6th.

The Brasil official did confirm the meeting will concern “institutional topics.” However, the exact details of the meeting were not disclosed, and the public was not eligible to attend. In 2020, the CEO of Ripple participated in a similar meeting with the same Brazilian officials. 

Brazilian officials have been noticeably bullish towards crypto and digital assets. The country approved a Bitcoin ETF and has been in discussions for a digital currency for some time. The largest economy in South America recognizes that digital currencies are a potential tool to help lift many in their country out of poverty

Source

‘Misalignment of Expectations’

The CEO of Binance Brasil, Ricardo Da Ros, resigned from his position in July 2021. Da Ros cited a misalignment of expectations in his Linkedin post upon departure. Recently, Brooks also noted strategic differences after his quick departure from Binance.us. 

These departures were not good news from Binance, but the exchange has pressed on. The BNB token price has cruised through $400, and activity on Binance Smart Chain has remained high.

Binance CEO CZ spoke with Bloomberg TV on Tuesday, August 17, about the role of regulations. He indicated he now spends a vast majority of his time dealing with matters related to regulations. 

The largest crypto exchange in the world has faced several regulation battles in recent months but has tried to get out on the front foot of regulations as best it can. Binance has grown insanely over the last year, and it is only fitting that regulation has followed all of the innovation. 

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Kyle Heise

Born and raised in the East Bay of California. He has studied and worked on three continents and lived in eight countries. Kyle resides in San Francisco. He holds bags mostly in ETH, CRO, CAKE, and BSC meme projects.

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