Summary: The Central Bank of Brazil (BCB) plans to launch a pilot of a digital currency (CBDC) by 2022, BCB President Roberto Campos Neto said, local media outlet Estadao reported. The monetary authority of the Latin American country has said it expects to launch a final version of its central bank digital currency by 2024. Brazil’s ...

The Central Bank of Brazil (BCB) plans to launch a pilot of a digital currency (CBDC) by 2022, BCB President Roberto Campos Neto said, local media outlet Estadao reported.

The monetary authority of the Latin American country has said it expects to launch a final version of its central bank digital currency by 2024. Brazil’s central bank has also been discussing a bill to regulate digital assets as an investment vehicle, Campos Neto said on Friday, without disclosing further details.

In August, Campos Neto said that Brazilians held about $40 billion in total in cryptocurrencies. “[Crypto] is already starting to affect even the national accounts, which means it has become a relevant investment instrument,” Campos Neto noted, adding that crypto purchases are impacting Brazil’s import figures.

By Amy Liu