InstaForex

November 23, 2021

Brazil To Test CBDC In 2022!

 Another country that will follow in the footsteps of China and the Bahamas, Brazil wants to launch central bank digital currency (CBDC) testing in 2022.


The exciting news was announced personally by the president of the Brazilian central bank (BCB), Roberto Campos Neto.


Meanwhile, the launch of the CBDC is expected in 2024, as predicted by BCB's economic advisers.


However, the launch of the CBDC should be in line with the publication of appropriate legislation.



Thus, the central bank also held discussions on the bill, which is suitable for digital currency as an investment asset.


At the same time, Campos Neto told the purchase of crypto assets in the country has shown a positive effect in the volume of Brazilian imports.


Based on BCB records, Brazilians have made purchases of crypto assets worth $ 4.27 billion over 2021.


That means as of August, they have about $ 40 billion worth of wealth in cryptocurrencies.