According to Bitcoin News, the IMF released a Brazil financial system stability assessment report stating that Brazil’s crypto asset market—especially USD stablecoins—has expanded rapidly since 2017, and the growth rate of cross-border crypto capital flows has exceeded that of traditional capital flows and nominal GDP. The sensitivity of stablecoin purchases to global markets’ shocks such as VIX, Bitcoin prices, and the S&P 500 is about 2 to 3 times that of traditional securities investment or foreign direct investment capital flows.

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