IMF warns Brazil’s crypto market about cross-border funds exceeding traditional capital and calls for stronger regulation

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PANews July 28, according to Bitcoin.com News, the International Monetary Fund (IMF) said in its latest Financial System Stability Assessment report that cross-border capital flows in Brazil’s crypto market have exceeded the scale of traditional capital, driven mainly by stablecoins and influenced by indices such as the S&P 500, the VIX, and Bitcoin prices. The report calls for Brazil to strengthen its regulatory framework, fully implement anti-money laundering and counter-terrorist financing measures, and notes that Brazil still has gaps in customer asset segregation and travel rule enforcement. The report also highlights that Brazil’s crypto system is interconnected with the traditional financial system, and that regulators need to establish advanced reporting protocols and work with domestic and international regulators to reduce risks.

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