CoinVoice has learned that, according to Cointelegraph, the Brazilian Central Bank officially proposed on November 29 to ban stablecoin transactions, such as Tether's USDT, in self-custody wallets. As the Central Bank 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.
Area Bitcoin school co-founder Carol Souza believes that the Brazilian Central Bank's proposal is likely to become a reality by 2025, as the bank seems to be preparing to establish regulations to prevent individuals from conducting P2P stablecoin transactions.
However, Trezor's Bitcoin analyst Lucien Bourdon stated that even if the pace of cryptocurrency adoption slows, 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." [Original link]