“The Bank’s Decision Will Depend on Regulatory Developments in Brazil and the Success of Stablecoin Rolllouts by US Financial Institutions.”, – WRITE: www.coindesk.com
The Decision Could Hinge on How American Institutions Fare With Their Stablecoin Rolllouts, SAID GUTO ANTUNUS, HEAD OF DIGITAL Assets at Ita. At An Industry Event in Sálo Paulo, Antunes Cited The Growing Momentum Begind Blockchain-Basted Settlement Systems.
“ITAú HAS ALWAYS HAD STABLECOINS ON ITS RADAR. We Cannot Ignore the Strenguth that Blockchain Has to Settle Transactions Atomically,” Local Media Quoted Him Saying. Stablecoins, for Now, Remain A “Topic On the Agenda.”
The Renewed Interest in Stablecoins Comes on the Heels of A Political Shift in The US, WHERE LAWMAKERS REJECTED A CENTAL BANK Digital Currency (CBDC) Dollar’s Dominance.
In brazil, regulators are conducting a public consultation –consulta pública no. 111 – Focused on How Stablecoins Might Fit Into the Exist Financial System. Antunes Said The Bank is Waiting to See What Rules the Central Bank Sets Before Advanceing Any Internal Project.
ANTUNES ALSO RAISED CONCERNS ABOUT A PROPOSED BAN ON SELF-CUSTYY IN BRAZIL’S DRAFT STRAFT STABLECOIN RULES. BRAZIL, IS WORTH NOTING, HAS Barred Major Pension Funds from Investing in Cryptocurrencies.
