Dogecoin was featured on Tesla’s official website; Binance under review in Brazil; IMF: Banning crypto may not be effective in the long run
Tesla, the luxury car company of Elon Musk, which maintains its popularity in the sector with its direction of the meme token market, granted Dogecoin a privilege. Electric car manufacturer Tesla has opened a special page for Dogecoin on its official website.
As it is known, Elon Musk has mentioned many times that Tesla cars can be purchased with Dogecoin. The inclusion of Dogecoin on Tesla’s website reveals that the company seriously considers DOGE as a payment method.
Dogecoin on the Tesla website
Tesla’s official website, which was recently brought to the public’s attention, has a special page that focuses specifically on Dogecoin payments. It can also be said that this page serves as a resource for customers who want to use Dogecoin to shop from Tesla.
The page, which provides information on the types of products that can be purchased using the digital asset and summarizes the purchasing processes, also provides guidance on the amount of DOGE that must be invested for any transaction.
On the other hand, this move of Tesla does not only accept Dogecoin as an official payment option in payment systems. At the same time, the integration of Dogecoin into the Tesla ecosystem allows potential increases in the price of DOGE.
Elon Musk, the new owner of Twitter, changed the logo of the social media platform to Dogecoin last April. Elon Musk, the new owner of Twitter, changed the logo of the social media platform to Dogecoin last April. This move of Musk created a stir among DOGE investors, and the price of the token gained 16 percent in minutes.
Binance under review in Brazil
After pressure from the US and European regulators, a blow to Binance came from South America. Binance Brazil is under scrutiny by the Brazilian House of Representatives. Deputy of the House of Representatives Alfredo Gaspar has requested that Guilherme Haddad, the director of the exchange, be summoned to the Brazilian parliament as part of the ongoing Parliamentary Commission of Inquiry (CPI) investigation into allegations of ponzi schemes in the country.
Gaspar’s request, dated June 21, is expected to be voted on by members of the CPI on June 27.
According to Brazil’s local news agency Portal do Bitcoin, Haddad will be invited to appear before the Brazilian House of Representatives if the vote is approved. With the latest investigation, Binance has entered the radar of the authorities in Brazil, after the USA, France, the Netherlands and the United Kingdom.
Alongside all this, the MP claimed that Binance was used by ponzi schemes in the country to facilitate asset transfers.
Binance’s grip on US and European regulators has finally mobilized regulators in the South American country. Binance Brazil and its manager are under scrutiny by the country’s regulator.
In addition, it was stated that Binance is being investigated in Brazil by the Federal Prosecutor’s Office and the Federal Police. It is also allegedly helping the exchange clients avoid a stop order on their cryptocurrency derivatives investments.
IMF: Banning crypto may not be effective in the long run
Following the CBDC recommendation, the International Monetary Fund (IMF) reported on the regulation and use of digital currencies in Latin America and the Caribbean.
The IMF has repeated calls for regulation of cryptocurrencies in certain countries, but also highlighted the possibility that a direct ban would not be effective.
In its June 22 report for Latin America and the Caribbean, the institution highlighted the steps taken by local governments towards the adoption of cryptos and CBDCs. El Salvador has accepted Bitcoin as a means of payment since September 2021, while the Bahamas became the first country to launch its own CBDC, the Sand Dollar, in October 2020.
IMF draws attention to South America
The IMF said Brazil, Argentina, Colombia and Ecuador are at the top of the world in the adoption of digital assets to help the unbanked send money more quickly and cheaply. According to the agency’s statement, most of the countries in this region are adopting or planning to adopt digital currencies.
“If well designed, CBDCs can strengthen the usability, resilience and efficiency of payment systems and increase financial inclusion in the regions mentioned. While several countries have banned cryptoassets outright due to the risks, this approach may not be effective in the long run. Instead, citizens can use unmet digital assets. It should focus on addressing the drivers of crypto demand, including payment needs, and increasing transparency by recording crypto-asset transactions in national statistics.”