Pix is going to be a big deal in limiting the black market in Brazil. Brazilians strongly prefer Pix for online payments. Since the central bank controls Pix they can prevent offshore sites from using it in a much more centralized way than other countries can do enforcement
Yes absolutely going to be a big factor. The only question I would have is to what extent does the top end of the market want to still use USDT etc and how much of that can/will the black market soak up. To be clear Brazil is going to absolutely fly out of the gates, but regulatory constraints and costs might be an issue. Also I feel like everyone is so desperate for it be a success it can only disappoint to an extent.
The first two quarters of 2025 in Brazil will be interesting. I believe this will be a critical time for the black market. Many companies that have obtained licenses will struggle to adapt to the new requirements, especially regarding KYC compliance.
Pix is going to be a big deal in limiting the black market in Brazil. Brazilians strongly prefer Pix for online payments. Since the central bank controls Pix they can prevent offshore sites from using it in a much more centralized way than other countries can do enforcement
Yes absolutely going to be a big factor. The only question I would have is to what extent does the top end of the market want to still use USDT etc and how much of that can/will the black market soak up. To be clear Brazil is going to absolutely fly out of the gates, but regulatory constraints and costs might be an issue. Also I feel like everyone is so desperate for it be a success it can only disappoint to an extent.
The first two quarters of 2025 in Brazil will be interesting. I believe this will be a critical time for the black market. Many companies that have obtained licenses will struggle to adapt to the new requirements, especially regarding KYC compliance.