Brazil’s B3 exchange to Launch Bitcoin Futures in Brazil Next Month

set for Bitcoin futures debut, aligns with Nasdaq’s reference price.
Brazil’s B3 Exchange To Launch Bitcoin Futures In Brazil Next Month
Brazil Fintech Sector Is Facing A Surge In Loan Defaults With Some Portfolios Experiencing Delinquency Rates Over 60
  • B3, Brazil’s prominent stock exchange, secures approval to introduce Bitcoin futures trading starting April 17.
  • The futures contracts will reflect 10% of Bitcoin’s price in Brazilian reais, using the Nasdaq Bitcoin Reference Price for valuation.
  • Amid growing crypto adoption, Brazil moves forward with regulatory adjustments and market expansions, including BlackRock’s recent ETF launch.

Brazil’s B3 stock exchange has officially received the green light from the country’s securities regulator to launch Bitcoin futures trading on April 17.

The futures will be financially settled, negating the need for direct Bitcoin transactions, and pegged to the Nasdaq Bitcoin Reference Price, with each contract valuing 10% of Bitcoin’s price in Brazilian reais.

B3, already a hub for crypto ETFs and related receipts, is responding to investor demand for a tool to hedge against Bitcoin’s volatility or to gain directional exposure to the digital asset. This initiative aligns with Brazil’s progressive stance on cryptocurrency adoption and regulation. The country has seen significant crypto engagement, prompting both regulatory advancements for investor safety and market expansions through partnerships, such as BlackRock’s launch of its first Bitcoin ETF in Brazil with B3.

2024 marks a new chapter for Brazilian investors holding cryptocurrencies overseas, with profits now subject to up to a 15% tax rate, though earnings below $1,200 are exempt.

Additionally, Itau Unibanco, Brazil’s largest bank, is entering the cryptocurrency space by offering a trading service for its investment platform clients, signaling a broader embrace of digital assets within the nation’s financial landscape.

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