The Central Bank of Brazil has stated its position that stablecoins should be classified and regulated as electronic money (Electronic Money), not as general cryptocurrencies. According to Bitcoin.com, Fábio Araújo, an advisor at the Brazilian Central Bank's Department of Regulation (Denor), explained, "While Bitcoin (BTC), Ethereum (ETH), and similar assets are digital assets with inherent scarcity and transferability, stablecoins should be viewed as monetary financial products, given their nature as a means of payment based on real-world assets (RWA)." In contrast, the Brazilian Crypto-Economy Association (Abcripto), which includes participants like Binance, Coinbase, and Tether, expressed opposition, stating that such a classification would hinder the adoption of stablecoins by institutions and individuals and deviates from international regulatory trends. Meanwhile, the Central Bank of Brazil recently announced regulations strengthening the supervisory standards for Virtual Asset Service Providers (VASPs) to the level of brokerage firms.
