According to TechFlow, the Central Bank of Brazil proposed on November 29 to ban stablecoin transactions, such as transactions in self-custody wallets such as USDT. The ban is expected to complete public consultations in February next year.
Carol Souza, co-founder of Area Bitcoin School, believes that the Brazilian central bank’s proposal could become a reality by 2025 and is aimed at preventing individuals from conducting P2P stablecoin transactions.
Lucien Bourdon, Bitcoin analyst at Trezor, said that even if cryptocurrency adoption slows, users will still turn to decentralized platforms or P2P solutions to trade freely.