The Central Bank of Brazil proposed strict regulation on transfers of stablecoins.

[Brazil's Central Bank Proposes Strict Regulation on Stablecoin Transfers] On May 15, news emerged from several Brazilian government sources familiar with the plans that Brazilian officials are considering the issuance of the country's first sovereign bonds denominated in Renminbi. Currently, this initiative is still under consideration, and no final decision has been made. The potential plan to issue sovereign bonds denominated in Renminbi would represent a significant advancement in Brazil's financial strategy. Meanwhile, as part of a new regulatory framework for Crypto Assets, the Central Bank of Brazil has proposed strict regulations on stablecoin transfers. These proposed rules include restrictions on sending stablecoins to wallets controlled by non-Brazilian entities, reflecting the country's tightening stance on domestic Crypto Assets transactions.