Brazil's central bank imposes 24-hour hold on large dollar stablecoin transfers
Brazil's central bank wants crypto firms to hold larger stablecoin transfers headed abroad for 24 hours before settling them. The move tightens a foreign-exchange net around dollar-pegged tokens. It reflects growing regulatory attention to stablecoins in one of the world's biggest crypto markets.
Brazil's central bank is preparing a rule that would require crypto firms to hold stablecoin transfers above a certain threshold for 24 hours before sending them abroad. According to the Rio Times, the aim is to bring cross-border flows in dollar-pegged tokens under foreign-exchange oversight.
Stablecoins are cryptocurrencies whose value is pegged to an asset such as the dollar. In Brazil, these tokens are increasingly used for fast, low-cost cross-border payments.
The central bank argues the holding period would help monitor suspicious transactions and strengthen compliance with currency rules. Industry representatives, however, warn the requirement could slow payment speeds. The details of the rule are expected to be finalized in the coming period.
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