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How will major stablecoin providers respond to Brazil's proposed regulation by June 30, 2025?
2
Resolution / Starting Odds
Comply with regulations • 25%
Lobby against regulations • 25%
Withdraw services from Brazil • 25%
No official response • 25%
Official statements from major stablecoin providers or reputable financial news outlets
Story
Brazil's Central Bank Proposes Ban on Stablecoin Withdrawals to Self-Custody Wallets, Citing 71% Crypto Transfers and $90B Activity
Nov 30, 2024, 02:35 PM
Brazil's Central Bank is proposing new regulations that would prohibit users from withdrawing stablecoins, including Tether (USDT), to self-custody wallets. This move comes as stablecoins account for approximately 71% of the country's crypto transfers, which total around $90 billion in activity, predominantly linked to global transactions, especially those pegged to the US dollar. The Central Bank cites the need for investor protection and regulatory alignment as key reasons for the proposed ban. This regulatory shift is also seen as a response to the depreciation of the Brazilian Real, which has recently surged past 6.00 against the US dollar, marking a new low and surpassing levels seen during the COVID-19 pandemic.
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Tether • 25%
Circle • 25%
Binance USD • 25%
Other • 25%
Yes • 50%
No • 50%
Additional fines • 25%
License granted • 25%
No further actions • 25%
Other actions • 25%
All major stablecoins comply • 25%
Some major stablecoins comply • 25%
None of the major stablecoins comply • 25%
Unclear compliance status • 25%
Stricter regulations imposed • 25%
Looser regulations or exemptions • 25%
No significant regulatory changes • 25%
Other outcomes • 25%
Yes • 50%
No • 50%
Yes • 50%
No • 50%
Approved • 25%
Rejected • 25%
Postponed • 25%
Withdrawn • 25%
Tether • 25%
Circle • 25%
Binance USD • 25%
Other • 25%