Brazil Supreme Court reconsiders ban on crypto in election campaigns

A Brazilian Federal Supreme Court judge is reviewing election regulations, including a ban on the use of cryptocurrency in political campaigns, DL News reported. The review is expected to be completed by March, ahead of the country's general election on Oct. 3. This follows a Supreme Court announcement in February 2024 that it would maintain the existing ban. The media outlet noted that the court's reconsideration suggests impending reforms in Brazil and other nations. As cryptocurrency gains popularity in Brazil, more politicians are advocating for its adoption ahead of this year's election, with the issue expected to be a decisive factor for some voters. Previously, Brazilian presidential hopeful Renan Santos cited the example of El Salvador's President Nayib Bukele, stating that Brazil could also gradually build up its Bitcoin reserves.