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Amazon’s CEO Positive about Crypto’s Future; Brazil to Set up Regulatory Framework for Virtual Assets

Amazon’s Chief Executive Officer Andy Jassy expresses optimism about the future of cryptocurrencies like non-fugitible tokens. The CEO, however, added that the company had no intentions to adopt virtual assets in the foreseeable future. 

Although virtual currencies like Bitcoin, ETH, and non-fungible collectibles keep getting increased approvals from payment platforms, not all digital marketplaces are singing the crypto jingle yet.

One of such commercial platforms is Amazon, the largest e-commerce platform globally, with over 195 million user accounts. The company’s CEO reportedly disclosed their stance concerning virtual assets during an interview with CNBC published on Thursday. 

Nevertheless, the CEO made positive comments while predicting the future of cryptocurrencies, like non-fugitible offerings. Andy opined that digital assets like BTC and SOL would boom in the coming days.

Additionally, the interviewer reportedly questioned Amazon’s CEO about whether the trading platform could sell non-fungible tokens in the near future. Andy, who currently doesn’t own any non-fungible tokens or Bitcoin assets, responded affirmatively.

Very Much unlike eBay

Amazon’s crypto stance is miles away from its competitor trading platform, eBay. eBay’s foray into trading non-fungible tokens dates back to last May when it started selling NFTs like pictures, footage, and NFT cards.

The more crypto-friendly company, in addition, says it’s looking into the possibility of accepting payments in virtual currencies. 

Jassy’s remarks contrast the expectations of some persons who thought the e-commerce platform was planning to introduce cryptocurrency payments. Several persons took that lead when the company reportedly advertised that it wanted to hire an expert to help build Amazon’s crypto-related strategies.

The public doesn’t know whether the company eventually hired the product development expert. Meanwhile, more organizations have increasingly continued to adopt virtual currencies as a payment method for their offerings. These developments have certainly increased the popularity of virtual assets across different countries.

Brazil Moves to Establish National BTC Regulations

Brazil takes steps toward joining countries with pro-cryptocurrency tendencies as lawmakers seek to pass a regulatory guideline for Bitcoin and other virtual assets. If it approves the bill, Brazil will become part of the Latin American nations that legally opened their borders to crypto.

According to the reports, the bill aims to create an agency that would supervise the country’s digital currency sector. The proposed legislation also covers repercussions for the illegal use of digital assets. Defaulters could spend up to eight years in prison and pay a fine.

Additionally, the regulation also exempts certain entities from paying specified taxes. The country, it appears, seeks to encourage the local crypto industry in a move that could tow the paths of other Latin American countries.

Bitcoin and other crypto-assets appear to increasingly gain ground in Latin America amidst high inflation rates in the region. Recently, Honduras was in the news when Prospera, a special economic zone in the country, accepted BTC as legal tender. 

Other Latin American countries that showed significant interest in a more digitalized economy include El Salvador and Mexico.

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