Big Techs: Lobby Accuses Central Bank of Unfair Competition in Pix

An entity representing big techs, card companies, and the payment system Swift has accused the Central Bank to the US government of ‘unfair competition’ with US companies. This is because the Brazilian monetary authority operates Pix while also deciding who can participate in the market. The accusation is part of a document delivered by the Information Technology Industry Council (ITI) to the US Trade Representative (USTR), which is investigating alleged anti-competitive practices by the Brazilian state. The report is signed by Brazilian Husani Durans de Jesus, who has been the board director for the Americas region since last year. Lawyers specialized in the Brazilian financial system argue that the Pix is a free public infrastructure operated by the Central Bank and open to all participants. The Brazilian regulator did not respond to the request for comment from the report.