Brazil's central bank believes that stablecoins should be classified as electronic money instruments.

BlockBeats News, July 4 – 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, thereby subjecting them to a stricter regulatory framework.

The Brazilian Crypto Economy Association opposes this, arguing that such classification may lead to regulatory conflicts, suppress the application of stablecoins in institutional and retail markets, and cause Brazil to deviate from international regulatory trends. At the same time, the Central Bank of Brazil has recently raised regulatory requirements for virtual asset service providers, which may put pressure on the operations of small and medium-sized crypto institutions.