Brazil makes stablecoin changes, limiting benefits. May keep BRL onshore
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.
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Brazil's central bank barred banks and funds from providing stablecoin liquidity and delays transfers above $10,000 to offshore or self-hosted wallets by up to 24 hours, lifting transaction costs from about 0.1% toward 1%.
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