Brazil's central bank governor: disagrees with strict regulation of crypto assets

08/12 15:42

According to Reuters, Brazil's central bank governor Roberto Campos Neto said at a crypto-themed conference that credit cards will soon cease to exist due to the development of the Open Financial System (OFS), which the Brazilian central bank will start implementing in 2021. The Open Financial System will allow users to solve various problems in their financial lives through an integrated app on their mobile devices. In addition, Neto said he did not agree with strict regulation of crypto assets, but highlighted concerns about excessive concentration of custody, as four companies currently hold 80% of crypto assets.
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