Brazilian central bank proposes strict regulation of stablecoin transfers

According to The Defiant, multiple Brazilian government sources familiar with the plan have revealed that Brazilian government officials are considering issuing the country's first sovereign bond denominated in Chinese yuan. At present, this measure is still under consideration and a final decision has not yet been made. The potential plan to issue RMB denominated sovereign bonds will be a significant development in Brazil's financial strategy. At the same time, as part of the new cryptocurrency regulatory framework, the Brazilian central bank has proposed strict supervision of stablecoin transfers. These proposed rules include restrictions on sending stablecoins to wallets controlled by non Brazilian entities, reflecting the country's tightening stance on domestic cryptocurrency trading.