Wednesday 02 November 2022 ▪ 1:00 PM ▪
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After an intense presidential election, crypto supporter Lula da Silva will finally become president of Brazil next January. This election is far from trivial, because through his campaign, the new Brazilian head of state was already campaigning for a common currency within Latin America. The Labor member has never denied the need for a common currency in South America. It is considered that this strategy presents unexpected development opportunities for each country.
Lula da Silva dreams of a country that has switched to cryptocurrency to boost its economy
The race for the head of Brazil was very tough between the former president in office Jair Bolsonaro and his opponent Luiz Inacio da Silva (Lola), pro-cryptocurrency. In the end, the two parties broke up in the second round. According to Brazilian law, the new president must take office in January. Lola’s election has a special flavor to the crypto world. In fact, the person who actually led the country between 2003 and 2010 is a fan of cryptocurrency and continues to say it.
On the sidelines of the election campaign, said that cipher It deserves the attention of the authorities. He went so far as to invite Brazilian Central Bank to set up A framework to facilitate the issuance of cryptocurrencies in the country. Moreover, it also complies with the international anti-money laundering legislation and everything that would be illegal. In addition to his political status, he is very close to the financial world. He has very good relations with Henrik Merrill, Former Central Bank President. The latter is best known for the advisor role he recently played on crypto exchange Binance. Moreover, rumors predict a possible position in the government of the next president.
To show his commitment to the crypto world, Lula is said to have registered his plan for the government on the blockchain. It was also complementary to the blockchain which he considers: “An innovative and incorruptible technology of records distributed by computers around the world that is also behind Bitcoin.”
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PhD student in financial law and experienced SEO web editor, Cédrick Aimé is passionate about cryptocurrency, trading, etc. Thanks to his articles, he naturally participates in the daily blockchain revolution to better democratize DeFi.