Topic: Visa reportedly aims to integrate Bitcoin payments in Brazil - page 2. (Read 232 times)

I saw the news yesterday and I really thought it was great. What makes me wonder about this is the tax issue. I don't know the fiscal regulation in Brazil, but if this becomes generalized, it will be a hassle to declare each payment for capital gains tax, or hopefully there will be programs that do it automatically, but if so, the countries' treasuries will also have to develop programs that check automatically, I don't see treasury officials checking thousands and thousands of transactions between $0.50 and $100.


Theoretically, political right-wingers should have an economic conception in the style of the Austrian School, which advocated the gold standard, and today it would be the Bitcoin. I am not surprised by what you say then. The thing is that in recent decades, some political right-wingers have also taken a liking to massively print fiat money.

If the trend you say consolidates, in the end we are going to see Bitcoin being accused of being sexist, racist, oppressive, etc. Lol.

That's a good news to be honest and it's Brazil that they're doing this so I don't think that it's a big deal for the crypto community. Hopefully, they will be able to make this kind of integration in other countries that they're also operating in because that's just stupid if you're doing it in only one country.

If Bolsanaro is associated with this move. Brazil would be the latest "right wing" state to embrace bitcoin and cryptocurrencies. After "right wing" texas and florida. It is possible el salvador's leadership is also right wing leaning which could be part of the motive behind recently passed crypto mass adoption. I don't know enough about el salvador's political climate to say exactly what is happening there.

If such is the case, we could be witnessing a pattern where left wing china and its left wing banker allies oppose bitcoin and cryptocurrencies in places like nigeria where central banks moved to ban crypto. Left wing leaning states like new york and california are also known to be very unfriendly towards crypto with new york having outright banned stablecoins like tether and imposing strict anti crypto regulation in place.

While the right wing does the opposite by supporting and embracing bitcoin and cryptocurrencies. As seen by florida, texas and now brazil. All of which are heavily attacked by left wing media for various reasons.

That could be one of the most important emerging trends as far as cryptocurrencies go in 2021.

Let's take a look at the latest development in Seu Dinheiro by payment giant visa, disclosed that it has start accepting crypto for it's payment especially the most commonly and acceptable crypto (Bitcoin) and to be used also as a store of assets, isn't it going to be too late for new investors and partnerships who would have join the emerging trend with crypto than later in future?

In a recent interview with Brazilian news outlet Seu Dinheiro, Eduardo Abreu, vice president of new business at payments giant Visa, revealed the comany’s intentions to integrate crypto assets onto its platform for both payments and as a store of value, including the leading cryptocurrency, Bitcoin (BTC).

Back in March 2021, Visa’s CEO of Brazil, Fernando Teles, introduced the concept of adopting tokenized payments, as well as an application programming interface, or API, designed to bridge the gap between traditional financial institutions and crypto services.

In the interview, Abreu shared his belief that greater adoption will require the integration of traditional banking activity within the cryptocurrency ecosystem so that customers can transact with fiat and crypto within the same environment.

Visa already offers 180 currencies on its platform and will look to leverage its 170 million global customer base and established fintech relationships with national banks Alterbank, Ripio and Zro in maximizing adoption in the region.

There was no specific announcement as to the date of the launch, but it is widely expected in the coming months.

“The great advantage of adopting Bitcoin is, without a doubt, its ease. Without needing to exchange a fiat currency, there is an optimization of exchanges when using Bitcoin,” said Abreu.

Alongside this service, Abreu also suggested the possibility of customers receiving cashback in crypto:

“Brazilians already have the culture of receiving card points, miles, discounts, etc. Why not receive cryptocurrencies with their credit card as well?”
Visa is no stranger to making headlines in the cryptocurrency space.
https://cointelegraph.com/news/visa-reportedly-aims-to-integrate-bitcoin-payments-in-brazil/amp