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Stablecoin regulation will be good for Brazil, executive reveals
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The regulation of stablecoins will bring significant benefits to Brazil, according to Cleverson Pereira, Head of Education at Onil X.
During a public hearing in the Chamber of Deputies, Pereira highlighted that stablecoins, digital assets pegged to traditional currencies like the dollar, already play a relevant role in the national economy.
He stated that the regulations under discussion in the Legislature should further boost this market.
The audience brought together representatives from companies, the Federal Revenue Service, the Central Bank and Coaf to debate Bill 4,474/2021. This proposal aims to create clear rules for the use, issuance and trading of digital assets in Brazil.
Stablecoins
The objectives include protecting investors, combating financial crimes such as money laundering and strengthening control over these assets within the national financial system.
Pereira explained that stablecoins, because they are pegged to stable assets such as the dollar, offer less volatility compared to better-known cryptocurrencies, such as Bitcoin and Ethereum. This characteristic makes them more attractive to investors seeking security.
He also highlighted that the proposed rules will help consolidate stablecoins as an efficient tool to move the national economy. According to Pereira, the regulation will bring confidence to investors and strengthen the role of stablecoins in the Brazilian financial system.
The Central Bank of Brazil (BC) published a public consultation notice in November 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.
Stablecoin regulation will be good for Brazil, executive reveals
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Stablecoin regulation will be good for Brazil, executive reveals
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Stablecoin regulation will be good for Brazil, executive reveals
