The use of stablecoins has also increased as Brazilian citizens increasingly buy stablecoins pegged to the US dollar to hedge against a plunge in their currency, the real. Brazil's central bank is expected to complete public consultations on a potential ban in February, with several executives already assessing the potential impact on local markets.
Carol Sosa, co-founder of the Regional Bitcoin School, pointed out that crypto exchanges in Brazil have been implementing KYC measures since 2019, while P2P transactions remain exempt from such restrictions.
Brazil bans self-custodial stablecoins to promote decentralization
2024-12-26 13:40:34
With Brazil citizens more through buying USD stablecoins Chong Countrydesk3cryptocurrencydesktopCrypto News
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