🇧🇷 Brazil, a major global economy, is sending mixed signals about its crypto future! While a cryptocurrency law was passed in 2022 and sanctioned by President Lula in 2023, debates continue over regulations for certain asset classes like stablecoins. 🤔 Recent proposals from the central bank could complicate things further, treating dollar-pegged stablecoins like foreign currency. This could create a compliance nightmare for crypto exchanges, requiring them to hold dual licenses! 📜 If approved, Brazilians may be banned from self-custody wallets and decentralized exchanges, where stablecoins thrive. Central Bank President Gabriel Galipolo has raised concerns about stablecoins being linked to illegal activities, including tax evasion and money laundering. 🚨 Despite its potential to be a crypto powerhouse, Brazil lacks the pro-crypto leadership seen in countries like El Salvador and the U.S. What do you think about Brazil's crypto landscape? Let us know!