According to Deep Tide TechFlow, on December 26, Cointelegraph reported that the Central Bank of Brazil officially proposed a ban on stablecoin trading, such as Tether's USDt, in self-custody wallets on November 29. As 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 this 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 seems to be preparing regulations to prevent individuals from engaging in P2P stablecoin trading.
But Trezor's Bitcoin analyst Lucien Bourdon stated that even if the pace of cryptocurrency adoption may slow down, existing users will find ways to trade cryptocurrencies freely. 'If it really goes through, we expect users to turn to decentralized platforms or P2P solutions.'