Brazil to regulate stablecoins in 2025, says central bank chief

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October 15, 2024 8:39 AM EDT

FILE PHOTO: Brazil's central bank Governor Roberto Campos Neto, speaks at the ReutersNEXT Newsmaker event in New York City, New York, U.S., November 9, 2023. REUTERS/Brendan McDermid/File Photo

BRASILIA (Reuters) - Brazil's central bank chief Roberto Campos Neto said on Tuesday that stablecoins and asset tokenization should be regulated in the country next year, as he delivered remarks in a video recorded for market intelligence firm Uqbar.

Stablecoins are pegged to real-world assets, such as the U.S. dollar, and therefore fluctuate much less than other crypto assets like bitcoin.

Campos Neto has previously said that the rising demand for stablecoins in Brazil was largely tied to tax evasion or illicit activities.

(Reporting by Marcela Ayres; Editing by Gabriel Araujo)


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