TechFlow news, on December 26, according to Cointelegraph, the Central Bank of Brazil formally proposed banning stablecoin transactions on self-custody wallets—such as Tether's USDt—on November 29. With the central bank expected to complete a public consultation on the potential ban by February next year, some industry executives have already begun assessing its potential impact on the local market.
Carol Souza, co-founder of Area Bitcoin School, believes the central bank's proposal is likely to become reality in 2025, as it appears to be preparing regulations aimed at preventing individuals from conducting P2P stablecoin transactions.
However, Lucien Bourdon, Bitcoin analyst at Trezor, said that even if cryptocurrency adoption may slow down, existing users will still find ways to freely trade cryptocurrencies. "If the ban is truly implemented, we expect users to shift toward decentralized platforms or P2P solutions."
