Why Brazils Central Bank Wants to Classify Stablecoins as Electronic Monetary Instruments

In a Brazilian Congress hearing, Fábio Araújo, consultant for the Financial System Regulation Department (Denor), stressed that, unlike other crypto assets, stablecoins have specific traits that would be better regulated if they were classified as monetary instruments instead of as digital assets. Central Bank of Brazil pushes for electronic money regulation for stablecoins The debate []