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Brazil Eyes Stablecoin Control with New Wallet Restrictions

  • Brazil proposes a ban on stablecoin transfers to self-custodial wallets to tighten financial market oversight.
  • The regulation could push users towards decentralized platforms and peer-to-peer trading for stablecoin transactions.
  • The Central Bank of Brazil aims to limit the flow of stablecoins to wallets like MetaMask as part of their effort to control foreign exchange markets.
  • The proposed ban may increase the acceptance of decentralized finance solutions, challenging regulatory enforcement further.

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