News list for " gabriel"
According to Bitcoin.com, Gabriel Galipolo, the new governor of Brazil's central bank, said that more than 90% of cryptocurrency use in the country is stablecoins transactions. The central bank's analysis found that stablecoins are mainly used for cross-border transfers, and there are risks of tax evasion and money laundering. Galipolo pointed out that the central bank initially believed that stablecoins were popular because they provided people with a convenient way to hold dollars. But after i...
Gabriel Galipolo, the governor of the Central Bank of Brazil, has said that stablecoins dominate cryptocurrency transactions in Brazil. Speaking at the BIS event in Mexico City, Galipolo said that the use of digital assets in Brazil has surged over the past three years. Galipolo said that 90 percent of the country's cryptocurrency usage can be pegged to stablecoins. Galipolo highlighted the regulatory and supervisory challenges posed by the widespread use of stablecoins in the payments sector, p...
