Stablecoins and Legislation: Challenges and Opportunities
Stablecoins, cryptocurrencies backed by stable assets like the dollar or gold, have gained prominence in the financial market. However, the lack of clear regulation poses risks, such as systemic instability and money laundering.
Jurisdictions like the US and EU are advancing in creating legal frameworks. In the US, proposals require 100% backed reserves and oversight from the Fed. In the EU, the MiCA (Markets in Crypto-Assets) imposes transparency and periodic audits.
In Brazil, PL 3.825/2023 seeks to regulate stablecoins, requiring licenses from Bacen and collateral guarantees. The challenge is to balance innovation and security, avoiding a haven for insecure models.
Appropriate regulation can strengthen trust and integrate stablecoins into the traditional financial system.
