RATE Group | Why Latin America could become the cryptocurrency industry’s biggest market
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Why Latin America could become the cryptocurrency industry’s biggest market

30 Dec Why Latin America could become the cryptocurrency industry’s biggest market

Posted at 22:09h in Cryptocurrency News by

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Cryptocurrency has had a difficult 2019 but there is some hope in Latin America. The continent has seen widespread adoption of cryptocurrency and could represent the next breakthrough region for the cryptocurrency industry. 

Born2Invest mobile application is bringing all the crypto and business news from trusted sources to a single screen so you can stay on top of the market. Our organization covers news overlooked by other providers particularly in niche subjects or markets.

Brazil’s crypto market is growing rapidly

The population of Brazil has shown a growing interest in cryptocurrencies and the adoption of their underlying technology. In fact, Brazil’s Federal Revenue Service, known as Receita Federal, reports a figure close to $3 billion (BRL 14 billion) in cryptocurrency transactions, declared by taxpayers between August and September.

According to the reports, the collection agency said the figure corresponds to a total of 2.49 million transactions. It should be noted that…

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