Wu said that according to Bitcoin News, Gabriel Galipolo, the newly appointed governor of the Brazilian central bank, stated that over 90% of the country's cryptocurrency usage is related to stablecoins. Galipolo pointed out that a large number of stablecoin transactions are related to cross-border shopping, and the transaction methods are opaque, which may be used to evade taxes or money laundering activities. He also criticized some citizens' pursuit of privacy, believing that it is often related to illegal activities. Galipolo revealed that the Brazilian central bank proposed new regulations in December last year, intending to link stablecoins with foreign currency regulation or prohibit individuals from holding stablecoins. If this regulation is ultimately passed, it will restrict Brazilian users from participating in DeFi activities, as most DeFi platforms require users to manage their own funds. https://www. (wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=37655