BrazilReal
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The Real's Digital Shift Amidst 700% Devaluation
The Brazilian Real is transitioning towards the digital economy after experiencing over a 700% devaluation since its launch in 1994. The upcoming introduction of its digital version, the Drex, signifies Brazil's leap into the digital financial era. This move mirrors the global trend towards digital currencies and spotlights the potential transformations and challenges in Brazil's financial landscape as it embraces this digital shift.
#Write2Earn #BrazilReal
The Brazilian Real is transitioning towards the digital economy after experiencing over a 700% devaluation since its launch in 1994. The upcoming introduction of its digital version, the Drex, signifies Brazil's leap into the digital financial era. This move mirrors the global trend towards digital currencies and spotlights the potential transformations and challenges in Brazil's financial landscape as it embraces this digital shift.
#Write2Earn #BrazilReal
Brazil’s top prosecutor defends X ban, urges Supreme Court to end disputes #BrazilReal
For Brazil’s Attorney General’s Office, the ban on X does not violate free speech rights in the country.
$BTC
Brazil’s Attorney General’s Office (PGR) has urged the country’s Supreme Court to dismiss legal actions challenging the ban on social media platform X.
The PGR argued that suspending Elon Musk’s social media platform does not violate free speech rights and stressed that the lawsuits against the ban lack legal grounds.
$ETH
The decision comes after Brazil’s Justice Alexandre de Moraes blocked the platform on Aug. 30 after it refused to name a local legal representative. Brazilian law requires social media platforms operating in the country to designate a legal representative.
Previously, X refused to comply with orders from the Brazilian Supreme Court to remove harmful content, such as misinformation and extremist rhetoric.
$BNB
The PGR was required to review the case after the Brazilian Bar Association and a political party (Partido Novo) appealed the decision to take down the platform. The appeals challenged the X suspension and $9,000 daily fine for users accessing the platform through virtual private networks (VPNs).
According to the PGR, the legal mechanism used in the appeals cannot be invoked to challenge Supreme Court rulings. “It is not even theoretically admissible to raise a claim of noncompliance with a fundamental precept against an STF judicial decision,” noted a translated version of the office’s statement.
Supreme Court Justice Marques Nunes, who is reviewing the appeals, is expected to refer the case to the court’s plenary only after the country’s municipal elections, scheduled for October. The court’s panel previously upheld Moraes’ decision to ban the platform on Sept. 2.
According to the official news agency of the Brazilian Congress, the controversy between Musk and the Supreme Court has sparked intense debates among lawmakers over the previous days.
For Brazil’s Attorney General’s Office, the ban on X does not violate free speech rights in the country.
$BTC
Brazil’s Attorney General’s Office (PGR) has urged the country’s Supreme Court to dismiss legal actions challenging the ban on social media platform X.
The PGR argued that suspending Elon Musk’s social media platform does not violate free speech rights and stressed that the lawsuits against the ban lack legal grounds.
$ETH
The decision comes after Brazil’s Justice Alexandre de Moraes blocked the platform on Aug. 30 after it refused to name a local legal representative. Brazilian law requires social media platforms operating in the country to designate a legal representative.
Previously, X refused to comply with orders from the Brazilian Supreme Court to remove harmful content, such as misinformation and extremist rhetoric.
$BNB
The PGR was required to review the case after the Brazilian Bar Association and a political party (Partido Novo) appealed the decision to take down the platform. The appeals challenged the X suspension and $9,000 daily fine for users accessing the platform through virtual private networks (VPNs).
According to the PGR, the legal mechanism used in the appeals cannot be invoked to challenge Supreme Court rulings. “It is not even theoretically admissible to raise a claim of noncompliance with a fundamental precept against an STF judicial decision,” noted a translated version of the office’s statement.
Supreme Court Justice Marques Nunes, who is reviewing the appeals, is expected to refer the case to the court’s plenary only after the country’s municipal elections, scheduled for October. The court’s panel previously upheld Moraes’ decision to ban the platform on Sept. 2.
According to the official news agency of the Brazilian Congress, the controversy between Musk and the Supreme Court has sparked intense debates among lawmakers over the previous days.
Decentralized Social Media Alternatives
#AlternativeCryptocurrencies
#BrazilReal
In the absence of X, many Brazilian crypto enthusiasts have turned to decentralized social media platforms for updates.
One such platform is Farcaster, a decentralized social media protocol launched in 2020 by former Coinbase alumni Dan Romero and Varun Srinivasan.
Farcaster has experienced rapid growth this year, increasing its user base from 4,318 in January to 68,485 in August.
While most of Farcaster’s users are based in Europe, 9% are located in South America, offering a potential alternative for Brazilian crypto users seeking a replacement for X.
Alex Masmej, CEO and founder of Draculaapp, a decentralized social media app built on Farcaster, highlighted the resilience of decentralized networks.
“Decentralized networks like Farcaster have many hubs, or nodes, that hold social media data,” Masmej said. “You can’t shut down Farcaster in a single country because of this. It’s much harder to kill something that is open.”
In addition to Farcaster, the social network MeWe is becoming a popular alternative to X.
MeWe was founded by internet and crypto entrepreneur Mark Weinstein. MeWe resembles Facebook, but doesn’t contain ads or targeting.
Jeffrey Edell, CEO of MeWe, told Cryptonews that the social media platform takes a privacy-first approach, allowing all users to own and control their own information.
$BNB
“Social media today has lost its way, the networking and relationship based platforms we first connected with are now flooded with ads, bots and less and less ways for individuals to express the true version of themselves,” Edell said. “With over 20 million users and 700,000 groups, MeWe is in a strong position to help people that are looking for alternative ways to be social online today.”
Challenges Remain for X Users in Brazil
Despite the availability of decentralized alternatives, many in Brazil’s crypto community are still struggling without X.
#AlternativeCryptocurrencies
#BrazilReal
In the absence of X, many Brazilian crypto enthusiasts have turned to decentralized social media platforms for updates.
One such platform is Farcaster, a decentralized social media protocol launched in 2020 by former Coinbase alumni Dan Romero and Varun Srinivasan.
Farcaster has experienced rapid growth this year, increasing its user base from 4,318 in January to 68,485 in August.
While most of Farcaster’s users are based in Europe, 9% are located in South America, offering a potential alternative for Brazilian crypto users seeking a replacement for X.
Alex Masmej, CEO and founder of Draculaapp, a decentralized social media app built on Farcaster, highlighted the resilience of decentralized networks.
“Decentralized networks like Farcaster have many hubs, or nodes, that hold social media data,” Masmej said. “You can’t shut down Farcaster in a single country because of this. It’s much harder to kill something that is open.”
In addition to Farcaster, the social network MeWe is becoming a popular alternative to X.
MeWe was founded by internet and crypto entrepreneur Mark Weinstein. MeWe resembles Facebook, but doesn’t contain ads or targeting.
Jeffrey Edell, CEO of MeWe, told Cryptonews that the social media platform takes a privacy-first approach, allowing all users to own and control their own information.
$BNB
“Social media today has lost its way, the networking and relationship based platforms we first connected with are now flooded with ads, bots and less and less ways for individuals to express the true version of themselves,” Edell said. “With over 20 million users and 700,000 groups, MeWe is in a strong position to help people that are looking for alternative ways to be social online today.”
Challenges Remain for X Users in Brazil
Despite the availability of decentralized alternatives, many in Brazil’s crypto community are still struggling without X.
