Brazil’s central bank has banned stablecoins and cryptocurrency settlement in cross-border payments, according to the announcement. The ban applies to fintechs and payment firms, effectively closing the back-end payment rail for cross-border crypto flows. However, individual crypto investors retain the ability to buy and hold digital assets under the new restrictions.

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Geopolitics Regulation & Policy Enforcement Actions

According to a Reuters investigation published Friday, Nobitex, Iran's dominant crypto exchange with roughly 11 million users, was founded by brothers Ali and Mohammad Kharrazi, whose family is related by marriage to all three of Iran's supreme leaders. The brothers registered the company in 2018 un

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FrictionlessFred

· 1h ago

It's the same old rhetoric about protecting traditional banks, clearly showing who crypto payments are threatening.

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NeonMint

· 1h ago

Short-term negative news, but in the long run, it may force the emergence of compliant local stablecoins, so there is still a chance.

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GateUser-e4fb1fbe

· 1h ago

Individual investors are temporarily safe, but once the payment channel is cut off, liquidity will eventually be affected; those who understand, understand.

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GateUser-2eca626f

· 1h ago

The Brazilian Central Bank's recent move really left me confused. They said they would cut cross-border stablecoin settlements, and then just did it. Fintechs are completely stunned.

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