Brazil's Presidential Candidate Gives Local Blockchain Media Interview About Need For Bitcoin Regulation

The Brazilian Presidential Candidate Has Gone Ahead to Address the Increasing Need for Bitcoin Regulation

Joao Goulart Filho, the Brazilian presidential candidate from the PPL party, Partido Patra Livre, gave an interview to the local blockchain media outlet, where he was able to discuss matters concerning the blockchain market. He was able to address some of the pressing issues, such as the need for a country to regulate this growing market especially for a country where the crypto industry is growing.

He went ahead to say that he and the party he is in are following with caution with the recent movement that has been taking place in the market.

He also mentioned the price collapse that was witnessed by many in January of this year that we saw Bitcoin loss about half of its value at the time. As they proceed in taking the necessary steps in educating themselves, they hope they will be able to provide a well-informed regulation that could be applied in the Brazilian market.

The PPL party will also be examining the different experiences that other countries have been able to have with the crypto market. Thus, help them see which methods of regulations could best be applied and those that have been effective within the country.

He went ahead to tell the reporter that currently there is no regulation that has been set in the country for the Bitcoin market or any other crypto coin in the market except Bill number 2003, which has been in existence since 2015 in the Chamber of Deputies.

He also added that with proper monitoring taking place in the market it should help in gathering more elements that will be able to contribute to some of the most appropriate formats of regulation. In terms of volume traded in the crypto market, Brazil has been ranked as the fourth largest; thus a regulatory bill is being discussed in the chamber of disputes.

More on The Blockchain

The reporter also went ahead to ask Filho on his current position with developing technologies; this is including artificial intelligence, blockchain plus the IoT – Internet of Things. He responded that he currently had an emotional commitment to the development that is taking place and the ability for this market to meet the increasing needs of the growing population.

He went on to explain the digitization that is taking place for the productive process, even though it is currently in its embryonic phase, is a very integral part of the tech development. According to him, there are about 193 startups that are in Brazil which are working closely with the emerging technologies.

The Partido Patra Livre party goes ahead to describe themselves as a scientific socialist party in the country, and Filho has proposed that they will get into progress investment policies that will help in the promotion of Technology, Ministry of Science, private tech companies, plus Innovation and Communication. All this is including the reversing of the National Fund for Scientific and the Technological development budget that was cut from 2014.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,468FansLike
2,795FollowersFollow
4,235FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

YFI’s Andre Cronje isn’t Going Anywhere; ‘This Space Won't Get Rid of Me'

Andre Cronje, the guy behind yEarn and the popular YFI, is not leaving the cryptocurrency space any time soon, at least, “until there is...

Crypto Mom, Hester Peirce, Secures Second Term as SEC Commissioner Through 2025

The US Securities and Exchange (SEC) Commissioner Hester Peirce, aka “Crypto Mom,” has been confirmed for a second term that will last till June...

yEarn Expanding its Ecosystem to Bring in Hot DeFi Tokens into the Mix

DeFi craze continues to get hotter as the system grows. yEarn’s zero supply valueless token YFI climbed to a new high today at $5,300 and...

Bitcoin Dollar Cost Averaging From 2017 Market Peak Still Returned 61.8%

Bitcoin price remains strong, not far from hitting $12,000 yet again after the touch and go over the weekend. Interestingly, despite the fact that the...

DEX Leader Raises $11 Million in Series A Funding for Uniswap V3 Following an Explosive Month

A popular and widely used decentralized exchange (DEX) Uniswap has raised $11 million in Series A funding led by Andreessen Horowitz with additional investment...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today