Brazilians Can Now Pay Taxes With Cryptocurrency - The Bank Of Brazil Now Accepts Virtual Money!

Calling all crypto aficionados in Brazil! You now have the chance to pay your tax bills with, you guessed it, cryptocurrency! Banco do Brazil, the country's oldest bank, has joined forces with Brazilian crypto firm Bifty to make this innovative move possible. Now while taxes may not sound like the most fun way to spend your crypto, who knows - this could potentially be your ticket to a future of taxes paid with digital currencies.

The Bank of Brazil and Bifty have joined forces to enable Brazilian taxpayers to use cryptocurrencies to pay their taxes, fees, and other obligations. With Bifty acting as a “collection partner”, citizens can now use their cryptocurrencies to settle bills, bringing convenience and providing national coverage with a reputable bank offering consumer protection. Lucan Schock, CEO of Bifty, believes that this initiative is the spark that will ignite a future of countless possibilities in the digital economy:
“The new digital economy is the catalyst for a future full of advantages. This partnership makes it possible to expand the use and access to the ecosystem of cryptocurrencies.”

According to reports, the Bank of Brazil's successful launch of its new tax initiative marks the bank as a trailblazer in financial services. The new venture also provides fintech and other financial partners of the Bank the capability to offer their customers similar tax payment options as per their contractual arrangements with government entities.

Mark Yusko's Barking Up the Dogecoin and Shiba Inu Trees!

Mark Yusko of Morgan Creek Capital Management recently weighed in on $DOGE and $SHIB during a YouTube interview for "Blockworks Macro". With his usual wit, he quipped, "Every day I tell myself the bear market in crypto is over when DOGE and SHIB go to zero. However, they never seem to reach that point... now they're increasing again! What's the value there? Can you trade them for something real? No way. Take Amazon, for example; they generate flow and profits." He continued on with a wry smile, "[It] makes DOGE and SHIB look silly in comparison!" 

They have discovered a method ofproducing return.... So, if I owned a share of that company, I could sell it to the company and get something in return. But should it be a meme stock or a meme coin? There is no worth."

With marketcaps of $11.22 billion and $7.87 billion, respectively, as of 7:555 p.m. UTC on 12 February 2022, $DOGE and $SHIB are the ninth and twelfth most valuable cryptoassets.

According to TradingView data, $DOGE and $SHIB are up 19.80% and 63.56%, respectively, year to date.