Brazil's Regulatory Approach to Stablecoins May Hinder Financial Innovation

Brazil's Regulatory Approach to Stablecoins May Hinder Financial Innovation

Latin America is now a hub for the development of digital assets due to the rise of stablecoin acceptance throughout the continent. This trend has gained traction in Brazil, where the biggest bank in the country, Itaú Unibanco, is apparently considering issuing its own stablecoin. However, regulatory ambiguity still obstructs growth in spite of this institutional interest. Itaú claims that the project is halted until a proper regulatory ...

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