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Central Bank publishes public consultation to regulate stablecoins on the exchange
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THE Central Bank of Brazil (BC) published, this Friday (29), a public consultation notice to propose rules that regulate the use of stablecoins in the foreign exchange market.
The initiative seeks to organize the activities of virtual asset service providers (PSAVs) and ensure legal security for both citizens and companies.
According to the BC, the proposal also aims to increase the efficiency and competitiveness of the national foreign exchange market. Additionally, search regulate capital operations international transactions involving digital assets.
The public consultation includes specific rules for PSAVs operations in the foreign exchange market. Among the highlighted points are:
Furthermore, the text establishes rules for the use of virtual assets in Brazil by non-residents. Also delimits that transfers of assets in foreign currencies between residents can only occur under conditions already authorized by current legislation.
The regulation also addresses investments in international capital made with digital assets. These operations will be subject to the same rules applied to other types of investment, such as external credit and foreign direct investment.
According to the BC, only institutions already authorized operating in the foreign exchange market and which also receive permission to provide virtual asset services may operate in this segment.
The regulatory proposal is based on Law 14,478, of 2022, which defines the guidelines for the digital assets market in Brazil.
Central Bank publishes public consultation to regulate stablecoins on the exchange
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Central Bank publishes public consultation to regulate stablecoins on the exchange
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Central Bank publishes public consultation to regulate stablecoins on the exchange
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Central Bank publishes public consultation to regulate stablecoins on the exchange
