Brazil's central bank bans stablecoin and crypto settlement in cross-border payments
The ban applies to fintechs and payment firms, closing the back-end payment rail for cross-border flows, but individual crypto investors can still buy and hold assets.
The ban on stablecoin and crypto settlement for cross-border payments may lead to a bearish sentiment in the crypto market as institutional players reassess their strategies. Prices of cryptocurrencies could experience downward pressure due to reduced utility in cross-border transactions.
The ban applies to fintechs and payment firms, closing the back-end payment rail for cross-border flows, but individual crypto investors can still buy and hold assets.
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