Brazil tightens crypto rules amid fears of capital outflow
Stablecoin transactions will be treated as FX operations under new central bank regulations
The Central Bank of Brazil (BCB) has updated the regulatory framework for cryptocurrencies in an effort to bring the opaque virtual asset market under its oversight.
In a statement on November 10, the central bank announced that certain types of crypto asset transactions would be treated as “foreign exchange and international capital market operations” under the new rules, which are set to come into effect next February.
The transactions affected would include the “buying, selling or exchanging”
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