According to Deep Tide TechFlow news on December 26, Cointelegraph reported that the Central Bank of Brazil officially proposed a ban on stablecoin trading, such as Tether's USDt and other self-custody wallet transactions, on November 29. Since the Central Bank of Brazil is expected to complete public consultations regarding the potential ban by February next year, some executives have already assessed the potential impact of the ban on the local market.
Carol Souza, co-founder of Area Bitcoin school, believes that the Central Bank of Brazil's proposal is likely to become a reality by 2025, as the Central Bank of Brazil appears to be preparing to formulate regulations to prevent individuals from conducting P2P stablecoin transactions.
But Trezor's Bitcoin analyst Lucien Bourdon stated that even if the pace of cryptocurrency adoption slows, existing users will find ways to freely trade cryptocurrencies. 'If it really goes through, we expect users to turn to decentralized platforms or P2P solutions.'