Brazil’s Crypto Clarity Fuels Opportunities for Utility-Focused Coins

Brazil’s Central Bank has introduced licensing and FX-style oversight for crypto, a significant shift that should improve consumer protection and compliance. Stablecoin flows will now be treated as foreign exchange operations, paving the way for cleaner rails for payment-focused activity. 2023 will see Brazil’s stablecoins become more regulated and its adoption of crypto payments increase significantly. This clarity has created opportunities for projects that leverage these new regulations to gain traction.