Drex is currently the most favored cryptocurrency by the Brazilian government at the moment. The Central Bank Of Digital Currency, or the CBDC, has issued an issuance that will supposedly kill many cryptocurrencies due to several important factors.
Now the statement might sound ominous, but it is not the case. Cryptocurrencies with prominent establishments might not be affected. However, when you look at some of the smaller cryptocurrencies, things might change. According to industry experts, Drex will siphon the attention away from smaller cryptocurrencies. And the reason might be how the crypto is shaped.
The New Chapter In Crypto
Drex currently aims to include as many advantages as possible. Some of the most prominent features include smart contracts, programmability, and interaction with already-established structures. The primary cause behind this is the platform’s ethereum compatibility. The system is also quite quick to respond and offers Distributed Ledger Technologies or DLT.
While regulators of other countries might not agree with crypto, CVM, on the other hand, is not only allowing crypto but is also trying to further the accessibility of the platform. Hence, brazil can be the next big chapter in the history of crypto.
According to the CVM president, the regulated crypto economy can bring all the ‘good’ actors of the sector under one law. This will enable the Brazilian organization to further its flexibility to other forms of currency.
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