Brazil to regulate stablecoins in ’25

Brazil’s central bank chief, Roberto Campos Neto announced on Tuesday plans to regulate stablecoins and asset tokenisation in the country by 2025.

In a video message delivered to market intelligence firm Uqbar, Campos Neto emphasised the need for a regulatory framework to address the growing popularity of stablecoins in Brazil.

Stablecoins, which are pegged to real-world assets like the US dollar, offer greater price stability compared to other cryptocurrencies like bitcoin. Campos Neto has previously expressed concerns about the use of stablecoins for tax evasion and illicit activities, highlighting the importance of regulatory oversight to mitigate these risks.

Attribution: Reuters