Brazil Makes Stablecoin Changes, Limiting Benefits. May Keep BRL Onshore

Ledger Insights

"In the past few months Banco Central do Brasil has made a series of regulatory changes and legislative proposals, with the combination significantly constraining the benefits of stablecoins for cross border payments. Momentum has accelerated in the past two weeks. The net effect is to make stablecoin transactions more costly and slower. Its moves could potentially curtail the circulation of Brazilian real stablecoins offshore, depending on the legislative outcome."