Brazil's central bank governor Roberto Campos Neto on Wednesday said policymakers are aiming to tighten cryptocurrency regulation and subject brokerages to their supervision. Speaking during a hearing in Congress, Campos Neto emphasized regulators will scrutinize the backing of cryptocurrencies and associated activities, given the significant surge in cryptocurrency imports by Brazilians. There is a perception that local demand has shifted toward stablecoins, which are cryptocurrencies typically linked to real-world assets like the U.S. dollar, with people using cryptocurrencies more as a means of payment rather than just for investment, said Campos Neto.
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