Brazil Reiterates Ban on Cryptocurrency Donations

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Ban on Crypto Donations: Brazil's Federal Public Ministry has reiterated the prohibition on political parties and candidates accepting cryptocurrency donations since 2019, emphasizing this policy aims to ensure transparency in campaign financing and avoid regulatory loopholes due to the anonymity of cryptocurrencies.
Transparency Issues: Although blockchain technology provides transaction records, the lack of regulatory infrastructure to verify donations in real-time makes it difficult for electoral courts to effectively trace the sources of contributions, rendering cryptocurrency donations legally unacceptable.
Potential Penalties: Violating this ban could lead to fines, and the reputational risk of being prosecuted for accepting untraceable cryptocurrencies poses a greater threat, potentially jeopardizing candidates' campaigns.
Global Implications: Brazil's stance may serve as a reference for other emerging democracies; while an outright ban could push donors into less transparent channels, it also underscores the importance of electoral transparency.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Strong sell technical sentiment. Our proprietary analysis, which aggregates 5 technical signals, shows that 0 indicators are flashing buy, while 5 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	56366.568	59152.284	61720.718	64506.434	67074.868	69860.584	72429.018
Fibonacci	59152.284	61197.569	62461.149	64506.434	66551.719	67815.299	69860.584

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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