Brazil lawmakers move to outlaw algorithmic stablecoins like USDe, Frax
Brazil advances a bill to ban algorithmic stablecoins and force all domestic issuers to fully collateralize tokens, tightening rules in a market where stablecoins drive 90% of crypto flows. Summary Bill 4.308/2024 would prohibit issuance or trading of uncollateralized, code-based stablecoins and introduce prison terms of up to eight years [...]
