Brazil’s central bank released on Monday, November 10, long-awaited rules for virtual assets that will affect how stablecoins are classified in a framework that extends the country’s existing anti-money-laundering, counter-terrorism, and consumer protection laws to virtual-asset service providers (VASPs) and foreign-exchange (Forex) operators. According to the central bank, any transaction that involves virtual assets pegged to fiat currencies will be treated as a foreign exchange operation. The same classification will apply to international payments or transfers made using virtual assets, including those carried out through cards or other electronic payment…
Read MoreBrazil regards stablecoins as forex operation in new stablecoin regime
