Brazil Central Bank Proposes Classifying Stablecoins as Electronic Money on July 4

According to Brazil's Central Bank, on July 4, the institution proposed classifying stablecoins as electronic money instruments rather than general digital assets, bringing them under stricter regulatory oversight. The Central Bank stated that stablecoins function as payment tools. Brazil's Crypto Economic Association opposed the classification, arguing it could trigger regulatory conflicts and hamper stablecoin adoption among institutional and retail users.
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