CVM Chief: Brazilian CBDC Drex to ‘Kill’ Many Cryptocurrencies
João Pedro Nascimento, president of the Brazilian Securities and Exchange Commission (CVM), believes that drex, the Brazilian central bank digital currency (CBDC), will “kill” many cryptocurrencies. While established cryptocurrencies like bitcoin and ethereum will keep being used in the country, drex will impact the adoption of smaller and less-known crypto projects, Nascimento stated. CVM President:…