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 methods.
The regulations are expected to come into effect in February 2026. It is one of the first major moves the central bank has made towards regulating crypto assets and stablecoins since 2022, when the country approved a legal framework for cryptocurrencies, but its implementation rested on complementary regulations that the central bank was expected to provide.
Read more: cryptopolitan.com
