NoLimit City Kicks Off 2023 by Adding NoLimit City’s Catalog

Facebooktwitterredditpinterestlinkedinmailby feather

One of the best crypto casinos has just partnered with one of the best providers for a year to remember. FortuneJack kicks 2023 off by adding NoLimit City to its list of providers. We all know how great of a provider NLC is, and its portfolio will certainly elevate the casino’s quality.

Thrill seekers and hardcore casino game players love NoLimit City’s games, and that doesn’t surprise us. The studio’s games are nothing short of amazing, pairing exclusive gameplay features with wins that often hit 50,000x the bet. They’ll certainly benefit FortuneJack casino’s game lobby, where there were already thousands of great titles.

More Quality Than Ever

With the NoLimit City deal, FortuneJack’s library will be jam-packed with quality titles, now more than ever. It was already at the 3,000+ mark, and a new ‘infusion’ of over 50 titles elevates it further. Everyone who has played NoLimit City’s slots knows how great they are. They always have some kind of a unique feature, and those X features that include splits, duplications, and whatnot, make the studio one of the best in the business.

To make things better, all of NLC’s games pay incredibly sums of money for regular slots. It’s not uncommon to see progressive jackpots offer prizes beyond your imagination, but that’s not the case with standard online slots. If you play NoLimit City slots such as Mental, you’ll see that the maximum rewards go well over 50,000x the bet. That plays a major role in the games’ popularity, although to be fair, it’s the gameplay features that do it for us.

Those splits and all X features look complex at first, but they are very useful and fun and rewarding when you learn how they work. All of NLC’s slots have them, and they often come in bunches. Another thing characteristic for NoLimit City is the unusual payout and hundreds or thousands of paylines. We’re not talking about Clusters or Megaways – these slots have a different type of math model that differs them from the rest of the crowd.

About NoLimit City’s Slots

The popular studio has released over 70 online slots so far, most of the bona-fide hits. Some of the most popular ones are El Paso Gunfight and Tombstone. Both of them are pure westerns. The former has 216+ ways to win with xNudge multipliers and maximum wins of 44,440x the bet. Tombstone offers some lower rewards at the 11,000x mark, but comes with justice-bringers and gunslingers that create quite the show.

NoLimit City has somewhat of a fixation on prison-themed slots. San Quentin is the best among them, with up to 3,125 ways to win and maximum winning potential of 115,000x the bet. Enhancer Cells can open up mystery symbols, while razor splits double special symbols on the reels for bigger wins. Folsom Prison is similar in style, but pays exactly half of San Quentin.

But, if there’s one NLC slot we’re looking forward to play in FortuneJack, it would have to be Mental. It comes with 108+ ways to win, high variance, and Nudge Split Ways that pay up to 9,999x the bet. The total winning potential of this dark and terrifying slot is 66,666x the bet, but it’s the atmosphere that will crawl under your skin and stay with you forever.

January 27, 2023: • No Comments

Coinbase CEO Proposes Bitcoin as a Solution for South American Countries Seeking a Common Currency

Facebooktwitterredditpinterestlinkedinmailby feather

Brian Armstrong, Coinbase’s CEO, has just tweeted that Bitcoin could be the long-term solution for Argentina and Brazil’s financial troubles. The South American countries have long been looking for a common currency, and Armstrong suggests that Bitcoin is the best option.

Just three days ago on the 22nd, the two countries have announced that they’re preparing framework for a common currency. It is supposed to run along the Brazilian Real and Argentine Peso. This currency could be used in both countries and would simplify things a lot when it comes to trade. Also, the move could create a major second-largest currency block and will surely have repercussions in regards to the Dollar trade market.

Bitcoin is the Middle Ground

While no side has announced anything yet, Armstrong’s proposal could be a smart move. By adopting Bitcoin, both Argentina and Brazil will finally test the waters they’ve wanted to for so long. Both countries have flirted with Bitcoin in the past, seeing it as a solution to their struggling financial systems.

As news broke over the proposed common currency, Bitcoin was suggested as a middle ground. The idea was given legs by Coinbase’s CEO on Twitter, although both sides have stayed mum on the proposal.

There are opponents to such a move. Global Macro Investor founder Raoul Pal is against the idea. In his own words, a ‘currency that declines 65% in the business cycle and goes up 10x’ is not an ideal pick. Others will also cite the volatility as the biggest obstacle to such a move. Hedging and planning would become nearly impossible in that kind of situation, although it could open up the field for profit if the price goes through a correction.

Armstrong’s suggestion was based on El Salvador. The small South American country officially accepted Bitcoin as legal tender in 2021. It has been buying the dip since then, and while official records say something else, the results have been a mixed bag. On the other hand, the country has experienced a surge in tourism in 2022, and profits from Bitcoin purchases are used to build churches and schools, so it’s not all bad.

No Strangers to Digital Assets

Argentina and Brazil are no strangers to Bitcoin or other digital assets. Last year, Brazil’s Chamber of Deputies approved a law that legalized cryptocurrencies as a payment method. Brazil’s outgoing president signed the bill before the new year arrived, and it should be in effect in June this year.

Just before 2023, Argentina approved legislation to start using a new stablecoin pegged to the US Dollar. It’ll be 100% collateralized by the province’s assets and available to all Argentinians over the age of 18.

The countries have been looking for a common currency to use in trade that will make trading goods much easier. Armstrong’s proposal could be a great idea, but we’re yet to see if any of the sides is open to it at all.

January 25, 2023: • No Comments

Suit Up on Bombay Blackjack for the Lunar New Year Battle at

Facebooktwitterredditpinterestlinkedinmailby feather

If you enjoy playing blackjack, especially in live dealer variety, you should check out Bitcasino’s latest promotion. Available on Bombay Blackjack, there’s a new promotion that lasts from January 16 to January 29. That’s the Lunar New Year for you, a time when everyone can get a wind of luck under their sails and claim one of the top rewards in this tournament.

You’ll have to score a suited blackjack in this promo to win as much as 100 USDT. It can be redeemed thrice a day, leaving you with as much as 4,500 USDT every week. All you need to do is opt-in to the promo, fund your account, fire up the popular game, and enjoy the extra coins.

Exciting Lunar New Year Promo

From Monday, January 16, to Sunday, January 26, has one of the industry’s top blackjack promos. It’s time to suit up and celebrate the Lunar New Year in style with Bombay Blackjack. One of the most exciting blackjack titles in live casinos, this exciting promotion allows you to earn as much as 1,600 USDT if you land a suited blackjack.

Even better, you can land up to 3 per week and triple that reward. You’ll get a reward equal to your minimum bet when you draw a suited blackjack. The minimum is set to 100 USDT during work week. Draw a suited King and Ace over the weekend, and the rewards are tripled.

To enter the promo, you will need to be a registered member of You will also need to opt in manually. Find the Lunar New Year promo on the respective page and click on Opt In – that’s the easiest part.

You can then easily find it in the library and play for real money, winning extra USDT as you go. Here’s the reward structure for the Lunar New Year Bombay Blackjack promo:

Bet Monday-Friday Reward Weekend Reward
10-24.99 10 x3
25-49.99 25 x3
50-99.99 50 x3
100+ 100 x3

Terms and Conditions

As you can see, the more money you put in, the better the rewards. The casino accepts wagers in all cryptocurrencies available on the Payments page. You can only play Bombay Blackjack tables hosted by Evolution Gaming – no other live blackjack tables counts.

Keep in mind that the tournament doesn’t hand out rewards for wins, multipliers, or whatever. To win, you need to get a suited blackjack during the promo period. Splits don’t count toward the promo. The wager-free reward is paid instantly. Like always, reserves the right to amend or change the rules at any point during the promotion.

The Lunar New Year is the beginning of the lunar calendar where months are moon cycles. The event is celebrated in numerous cultures, especially in Asia. The determination of the first day varies by culture, and this year, it’s on January 22. But, the promotion lasts for almost a week after, giving you ample time to win big in

January 20, 2023: • No Comments

Lawyers Find Billions While Hunting for FTX Assets in Crypto and Cash

Facebooktwitterredditpinterestlinkedinmailby feather

Bitcoin's price up again.The FTX trial is locked in and new reports and evidence about Sam Bankman-Fried’s schemes are emerging all the time. Just a couple of months after FTX’s demise, lawyers have begun to identify the crypto exchange’s assets. In a new reveal, lawyers from Sullivan & Cromwell have identified a total of $5.5 billion of assets in cash and crypto tucked away in many parts of the company. Some were found held in customer accounts.

All that money is supposed to be used to repay lenders and customers who were wiped off the map when the crypto exchange filed for bankruptcy. And that’s just the beginning – there’s a lot of money still owed, and we’re yet to see what new assets emerge and how they will be processed.

Untangling Evidence and Recouping Assets

The trial has reached the point of presenting evidence that there’s still a lot of money locked up in FTX’s assets. The massive scope of the challenge to untangle and recoup assets is becoming more and more clear. Sam Bankman-Fried and his crypto exchange FTX has invested in an assortment of assets in three years.

Some of the money went to new cryptocurrencies. The rest was invested in all kinds of digital companies. Nearly $2 billion out of the $5.5 found was in cash and on FTX’s books. A total of $3.5 billion was in crypto assets. Most of that money was in Bitcoin, but many coins of questionable value were also invested in. This stash of digital currencies can be turned into cash, as all those coins can easily be traded.

Many of the seized assets were in stablecoins, although more than 100 lesser-known coins were also found. Millions of dollars were poured into these, and their value may not stand in the long run. This is one of the problems that were uncovered when FTX feel. The money invested by its customers was reinvested in questionable coins and assets, including half a billion in the company’s coin, FTT.

These ‘illiquid coins’ will be much tougher to convert to cash, but on the positive side, their amount is smaller than Bitcoin.

Fewer Digital Assets Than Hoped

Despite the immense value of the seized assets, the lawyers said the amount of money found during the hunt was smaller than they hoped for. When FTX collapsed, reports said that around $8 billion is missing from customer accounts. There were nine million accounts opened at the exchange, and while some were empty, others were loaded.

The money owned to lenders hasn’t been disclosed. The task of discovering how much money is owned and what’s likely to be recovered and paid back will certainly change all the time. FTX didn’t keep complete financial records, with Bankman-Fried essentially treating all customer deposits as piggy banks. He could easily use the money as he saw fit, so it’s no wonder that he was a billionaire in his early thirties.

This was a massive and years long fraud that shook the crypto industry to the core. We’re aching to see what happens next, but don’t expect all the money to be recovered and paid back.

January 18, 2023: • No Comments

Lucky Player Wins Almost €90,000 at Bitstarz; New Games Offer Even Bigger Winning Opportunities

Facebooktwitterredditpinterestlinkedinmailby feather

One of the best Bitcoin casinos in the industry, bitStarz, has just announced a record win. One of its lucky players won $89,601 on the Lucky Little Devil slot. You could say that they’re a lucky little devil and it would be an understatement.

As one of the premier crypto casinos, bitStarz has plenty of games that pay big. We’re talking hundreds of thousands of dollars big. The game lobby is constantly being updated with new titles and many of them come jam-packed with amazing action that pays. That’s why players continue to love this amazing casino, and why bitStarz’s future is so bright.

Incredible Win

Red Tiger’s Lucky Little Devil is a fantastic homage to the slots of old. It’s a 5×3 slot with only 10 paylines, but that won’t stop you from hitting truly big wins if you’re a lucky little devil. One player at bitStarz saw that firsthand after hitting a win of $89,601 on Red Tiger’s hit slot.

It was a win to remember for him and the casino too. Being the good sport it is, bitStarz casino congratulated the player, featured the win on the front page, and agreed privately regarding the payment instalments.

This isn’t the first time it has happened, and it surely won’t be the last. The casino is adding new slots in its lobby all the time, and they’re all from the best providers. There are plenty of games where you can hit wins like this or even bigger. Take Hacksaw Gaming’s R.I.P City for example. Its maximum win is projected at $250,000 if you get lucky and play at higher bets.

Progressive jackpots are also on the menu in bitStarz, so it’s fair to say it surpasses the expectations of all kinds of players. We suggest keeping a close eye to the new releases. The casino highlights the best among them on its blog and social media pages, so that shouldn’t be too much of a hassle.

New Releases to Get Excited About

R.I.P City is just one of the many new slots being added to bitStarz’s library all the time. It’s one of our new favorites thanks to the retro vibes and art style that certainly takes us back to the glorious Tom & Jerry days. It’s got a more serious tone, though, with the cat and mouse playing a deadly game where one of them will go belly up.

Hacksaw Gaming’s new hit is now live in bitStarz casino, and it hides many surprises. The multipliers can go as high as 12,500x the bet, and if you play at the max line, we’re talking maximum winning potential of $250,000.

And that’s just one of the latest slots. You can swing your ways to big jungle wins in Pragmatic Play’s Wild Wild Bananas, or bash monsters in Scatter Monsters and win amazing sums of money in Quickspin’s latest hit. One thing is for sure – the casino has no shortage of big win spin games, and all that you need to do is deposit and start playing.

January 13, 2023: • No Comments

What is Sango Coin, Central Africa’s Bitcoin Companion?

Facebooktwitterredditpinterestlinkedinmailby feather

If you haven’t heard the news, the Central African Republic adopted Bitcoin as legal tender last year. It followed in the footsteps of El Salvador in more ways than one. El Salvador’s president is an avid supporter of Bitcoin, and so is CAR’s president, Faustin-Archange Touadera. He has voiced his support for crypto and Bitcoin online, calling the latter ‘universal money’.

After accepting Bitcoin as legal tender, the Central African Republic also moved to create a new crypto token – the Sango Coin. Why is that? Is Sango important to the country’s Bitcoin plans? As a matter of fact, it’s more than just a companion, but an integral part of the country’s plans to integrate Bitcoin further.

Token, Not a Currency

When plans for the country’s own crypto were announced, many saw it as just another government-backed currency. However, the main technician who oversaw its development, Mamadou Moustapha Ly, says that it’s a token, not a currency. He also says that there’s a clean division between Sango and Bitcoin. CAR’s laws clearly state that Bitcoin is the country’s official currency, while Sango Coin is a project for the CAR state.

Why is it important? Sango offers distinct opportunities for foreign investors. Among them is a CAR passport, citizenship by investment, governance advantages, and more. To buy Sango essentially means buying residency in CAR, but without investing into the government-backed currencies.

Why did this happen? El Salvador adopted Bitcoin, but didn’t come up with its own crypto token. Well, El Salvador initially allowed foreigners to buy e-residency by investing 3 BTC. That law was rescinded later. In CAR, buying e-residency is only allowed by an investment of over $6,000 in Sango coin in a period of 3 years. Through the use of the token, foreign investors can also access the country’s strategic resources.

By investing in it, they will do business in CAR by using Bitcoin if they want to. That’s how the two are linked. Money raised through the sale of Sango will be used to buy Bitcoin, which is a more viable alternative than El Salvador’s cat and mouse game with BTC’s volatility.

Different Priorities

Bitcoin adopters usually hail the cryptocurrency as the solution to many of their problems. However, the Central African Republic has other priorities. Its priorities are education, clean water, education, and better Internet connectivity. The country needs investment fast, and the best way to obtain it is via foreigners’ investment in Sango.

Many experts call it a fast-track to direct foreign investment. The use of a crypto token—not currency— allows much more flexibility and speed when conducting transactions. It reduces the risk of fraud and sidesteps all the bureaucracy. In short, it’s a much better alternative than getting cash flow into the country as it doesn’t touch on dollars.

Sango also allows the government to easily control the flow of funds. The risk of capital flight is significantly reduced, and it’s a fast way to move robust revenues. It’s an integral part of the country’s plans to adopt and use Bitcoin, so it remains to be seen how it all works.

January 11, 2023: • No Comments

New Year, New Road to Riches at

Facebooktwitterredditpinterestlinkedinmailby feather

Happy new year to everyone! It’s time to start it properly, and has got just what we need. The popular casino has impressed us with a wide range of raffles before, and it’s the same at the start of 2023 as well. Its latest promotion is called Road to Riches and continues where 2022’s promo left.

From 2 January to 22, all of Bitcasino’s players can enter a distinct promotion that promises loads of fun. The Road to Riches raffle is open to anyone who opts in. All you need to do is play games and collect tickets. Score within the weekly top 20 to get 1, and you’ll enter one of the three stages of the promotion that promise loads of fun.

How to Participate?

Participation in the raffle is only possible when you score at least one ticket. You collect those by playing games with no minimum bets or any specific conditions. You just need to enter at least one of the three stages and collect a single ticket by placing in the weekly Top 20. The stages run like this:

  • Stage 1: 2-8 January
  • Stage 2: 9-15 January
  • Stage 3: 16-22 January

As long as you’ve got at least 1 raffle ticket—and you can collect more—, you will enter the draw held at the end of each stage.

Now for the prizes. This is a promotion with a total of 30,000 USDT in prizes. Those include cash prizes, free chips, and the main reward – a trip to Sweden for two. Along with cash considerations, of course. As we said before, the promotion is open to any players. The final draw takes place on January 25, 11:00 GMT, when the top reward will be drawn.

The lower prizes will be drawn first, with the main prize coming last. You can win more than one prize if you’re lucky, making it a promotion to remember.

Terms and Conditions

You have to be a registered member to be eligible for the promo. The total prize pool is 30,000 USDT. Those come in everything from cash rewards to free chips and a trip to Sweden for two.

If you’re gunning for the top prize (we all are), you need to learn the conditions. The trip will take place from February 16 to February 19, 2023. The winner and a companion of their choice will be rewarded with a business class trip to Stockholm and back home. The trip includes transfers to and from the airport. The accommodation is at the luxury Ett Hem hotel, with dinners at the Frantzen restaurant.

The prize also includes accommodation at hotel Silverhatten, and transfers to and from Arvidsjaur. Two driving sessions on frozen lakes with an instructor are included too. The casino doesn’t cover expenses in connection to visas, health insurance, and anything else. If a player declines the Sweden trip, it can’t be exchanged for cash.

As for the other prizes, they are wager-free. It’s time to enter the competition right now and start 2023 with a (Swedish) bang!

January 6, 2023: • No Comments

Fiji’s New Prime Minister Loves Crypto and Pushes for a Bitcoin Bill

Facebooktwitterredditpinterestlinkedinmailby feather

Sitiveni Rabuka is the new Prime Minister of the Pacific Islands of Fiji. That wouldn’t be big news in the crypto world if it wasn’t for his undying love and support for the crypto industry. It’s rare to see a politician backing Bitcoin and cryptocurrencies up, but Rabuka is very active in finding a way to making Bitcoin legal tender.

While his desire hasn’t been expressed so publicly, one of his closest allies—Lord Fusitu’a—has confirmed he’s a bull. He confirmed the same on Twitter, and hinted at a big possibility to turn Bitcoin to legal tender.

Small Country, Big Changes

Fiji is a small island in the Pacific that’s looking to follow in Tonga and El Salvador’s footsteps. The latter became the world’s first country to legalize Bitcoin fully, with the island of Tonga following later. Fiji is set to become the third, and it’s all thanks to Rabuka’s election to PM.

Lord Fusitu’a wrote on Twitter that he expects a bill drafted soon that will make Bitcoin legal tender in Fiji. He hinted at Tonga’s own bill that should go live in the first few months of 2023. Tonga’s Bitcoin dream started right after El Salvador declared it legal tender, and now Fiji might join the party.

The Primer Minister apparently talked to Fusitu’a via Zooms last year, asking for how such a bill could be implemented. He explained the process in detail and told the now-PM that everyone would benefit from such a move. More specifically, it would help with Fiji’s mining and remittance problems.

According to newly-released data, Fiji’s remittances for 2021 accounted for a total of 11.3% of the country’s GDP. In Tonga, remittances had a highest point of 45.5% before making Bitcoin legal tender.

Mining is an important part of both countries’ financial structure. Since they’re volcanic, Bitcoin mining is a certain fit. Just look at what El Salvador is doing with its Bitcoin bonds. Fiji has an upper hand – it has amazing hydro capacity, making it a perfect spot for Bitcoin miners. It’s obvious that the country will benefit by adopting Bitcoin, but the trigger has yet to be pulled.

When Is Such a Move Expected?

There are no clear plans for Fiji’s Bitcoin adoption as of now. Rabuka just became the country’s new Prime Minister, and there’s a lot of work to be done in other areas before legalizing Bitcoin as tender. Tonga’s bill is planned to go live in Q2 2023, and Fiji may not wait soon considering the new PM’s crypto support.

Even in an obvious bear market, countries are now seeing the potential Bitcoin brings to the table. It’s the best way to break free from the centralized finance chains. Fiji’s volcanic nature and hydro capacity make it a perfect spot for Bitcoin mining, without having a negative effect on the surroundings. It’s the same with Tonga. The Pacific region is set to accept Bitcoin soon, and may set an example many others will follow.

January 4, 2023: • No Comments

High 5 Games Supercharges Its Portfolio with SoftSwiss, Alreadt Available at bitStarz

Facebooktwitterredditpinterestlinkedinmailby feather

Popular slot developer High 5 Games has just got a massive upgrade to its catalog. By partnering with the SoftSwiss platform, one of the world’s biggest casino game platforms, it will now be available in more regions than ever. Of course, High 5 Games’ catalog was already available in bitStarz casino. But, thanks to the new deal, it will add many casinos to its list.

To make things even better for the studio, its games will now natively support Bitcoin, Dogecoin, and Ethereum. The studio has already released a slew of hits and is expected to release dozens more in the months and years ahead.

A Great Boost to an Already Great Platform

bitStarz has already featured some of High 5’s best games, including Interstellar Attack, Cat to the Future, and Foxy Dynamite just to name a few. Those games and all the new hits the studios releases will also be available in the casino. That much hasn’t changed. However, High 5 Games will now certainly be more motivated to boost its portfolio thanks to the fact it’s now available in many new regions.

By supporting new cryptocurrencies, it will surely amass thousands of new fans. We’re waiting on more details for the merger, but until then, let’s check out some of the biggest slot games released by the studio.

Cat to the Future

What if you pair the iconic Back to the Future franchise with cats? That’s right – you get a cat travelling to the future (and back). A 243 ways to win slot, this highly volatile bonanza is a pitch-perfect replica of the movie, but with cats. We all know how important cats are to the Internet, and putting them into Marty McFly’s shoes is something we could never imagine.

Luckily, High 5 Games’ techies thought of it, creating an immersive slot game with wins up to 5,000x the bet. It’s a wonderful game with plenty of time-travelling surprises, so if you’re a fan of the movie, it’s a must.

Foxy Dynamite

Foxy Dynamite is a fantastic homage to all those action movies from the 1960s and 1970s starring black superstars in lead roles. The main character, Foxy Dynamite herself, is on a super-spy mission to defeat her metal-hand nemesis. We won’t reveal the surprises, but we can tell you that it’s jam-packed with features and great payouts across 99 paylines.

Interstellar Attack

Remember Space Invaders, the iconic arcade game released by Taito in 1978? Interstellar Attack draws heavy inspiration from it, while pairing it with the best online slot elements. The game is notable for its 25 paylines and space-high RTP of 97.2%. The gameplay is a bit complex since there are so many symbols, but don’t worry – there’s a helpful guide that will walk you through it all. The most important thing is that you get to have plenty of fun, and it’s all thanks to High 5 Games’ excellent math model and gameplay features.

December 29, 2022: • No Comments

Brazil Joins the Legal Bitcoin Party

Facebooktwitterredditpinterestlinkedinmailby feather

All around the world, countries are starting to realize the huge potential Bitcoin has as means of payment. Not just Bitcoin, but all other cryptos too. The small island country of El Salvador did it first, followed by the Central African Republic, many states, and some cities like Lugano in Switzerland. It’s fair to say that things are taking a turn for the better, as now Brazil is joining that list after previously having thoughts about it.

Although he lost the last presidential elections, Jair Bolsonaro is still Brazil’s president. He’ll remain in the seat until January 1st, the date when new president Luiz Inacio Lula da Silva takes the reins again. Until then, Bolsonaro can sign laws as he sees fit, and one of the latest ones was a smart move. By approving a bill into law which was confirmed by the federal government’s official journal, Bitcoin is now a means of payment and investment in Brazil.

‘Digital Representation of Value’

By the bill’s words, Bitcoin is a digital representation of value. As such, it can be used for payments in Brazil and as an investment asset. The new law will go into effect 180 days from Bolsonaro’s signature. But, contrary to popular belief, it won’t make cryptocurrencies or Bitcoin legal in the country. As a matter of fact, it only allows crypto payments, with a potential to grow into something more in the future.

President Jair Bolsonaro has seen his fair share of negative publicity in the past. He signed controversial bills into laws and was criticized for his stern ruling that almost touched on dictatorship. However, this time he did the right thing, recognizing Bitcoin as a valuable payment and investment asset that will surely help Brazil’s financial troubles in the long run.

While it’s not legal tender by any means, this is the next best thing. Now, all that remains is for the executives to choose the government bodies that will oversee the market. Thanks to the new law, Bitcoin payments won’t be illegal anymore. It’s no secret that Brazil is a big market for Bitcoin, and while its residents have been doing everything illegally in the past, they don’t need to look over their shoulders ever again.

Who Becomes the Watchdog?

Most experts believe that the Central Bank will be in charge. The country’s securities and exchange commission will act as a watchdog, which is more or less the same as in the USA. The law was crafted with experts from the BCB, CVM, and RFV – the federal tax authority, who have yet to agree on any taxes and how transactions will be completed.

There are still six months to go before the new law starts to function. The good news is that it gives businesses a shot to try Bitcoin, which will lead to even wider adoption in the South American country. It remains to be seen what kind of effect it will have on the country’s financial troubles, with many experts expecting a positive outcome.

December 28, 2022: • No Comments