The Central Bank of Brazil (BCB) recently unveiled plans to restrict stablecoin transfers to wallets like MetaMask or Trezor, a move fueled by concerns over unregulated crypto use. This follows a significant rise in stablecoin adoption, as Brazilians increasingly hedge against the devaluation of their national currency, the Brazilian real, by turning to US dollar-backed tokens.<\/p>\n
While some believe the ban is likely to pass, industry figures, such as Carol Souza from Area Bitcoin School, argue that it reflects the BCB\u2019s ongoing efforts to tighten regulations in the face of growing crypto popularity.<\/p>\n
However, many see the move as a challenge to enforce, given that decentralized platforms and peer-to-peer (P2P) transactions are harder to regulate than centralized exchanges. Trezor\u2019s Lucien Bourdon points out that the government could struggle to control decentralized systems and predicts that, if passed, the ban will likely only affect part of the crypto ecosystem, pushing many users to shift toward P2P solutions.<\/p>\n