Brazil could start a CBDC pilot project as early as 2022

Last September, the Central Bank of Brazil told the Brazilian Senate that it planned to launch the final version of a digital real in 2024, according to estimates by Fabio Araujo, the BCB's economic consultant, who added that the monetary authority would conduct initial tests in 2022.

Brazil's central bank also discussed a bill to regulate digital assets as an investment vehicle, Campos Neto said on Friday, without disclosing further details.

"Cryptocurrencies are already starting to affect national accounts as well, which means it has become a relevant investment tool," Campos Neto noted, adding that cryptocurrency purchases are impacting Brazil's import figures. According to the BCB, Brazilians have already acquired $ 4.27 billion worth of cryptocurrencies so far in 2021. In August, Campos Neto said Brazilians held around $ 40 billion in total in cryptocurrencies.

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