Shenchao TechFlow News. On July 04, according to Bitcoin.com, the Central Bank of Brazil stated at a congressional hearing that stablecoins have the attributes of payment instruments and should be classified as electronic money instruments rather than general digital assets. Based on this, they will be brought under a stricter regulatory framework. The Brazilian Crypto-Economy Association opposed this, arguing that the classification could create regulatory conflicts, suppress stablecoin adoption in both institutional and retail markets, and cause Brazil to deviate from international regulatory trends. Meanwhile, the Central Bank of Brazil has also recently increased regulatory requirements for virtual asset service providers, which may put pressure on the operations of small and medium-sized crypto institutions.