Will FTX’s ill wind reach the Global South? Maybe not By Cointelegraph

With the crypto world still reeling from the FTX collapse, Brazil recently passed legislation that legalized cryptocurrency use for payments in the country. How to reconcile this with all those declarations in the West that crypto is having its “Lehman moment”?

Brazil may have inadvertently revealed a cleft between the developed world and emerging markets with regard to the uses and misuses of cryptocurrencies. (The legislation still requires a presidential signature before it becomes law.)