The Brazilian Superior Court of Justice has ruled that cryptocurrencies can be seized to recover debts, acknowledging them as a legitimate form of payment and store of value.
Even though Brazil lacks comprehensive regulations, it ranks second in Latin America for crypto value received, with Binance recently receiving approval to operate in the country.
There are ongoing discussions about proposed regulations, including a central bank plan that might restrict stablecoin transactions on self-custodial wallets, raising concerns within the industry.
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