The Central Bank of Brazil officially condemns algorithmic stablecoins.

On November 10, Brazilian Central Bank official Vivan emphasized that cryptocurrency companies should avoid complex activities and confirmed the ban on algorithm-based stablecoins. This statement indicates that Brazil is moving towards tightening cryptocurrency regulation while also sparking global discussions on regulation in this field.

Although the market remains stable, experts predict that businesses will need to adjust their strategies to adapt to the new regulatory framework. Following the collapse of TerraUSD, the monitoring of stablecoins has become stricter. According to CoinMarketCap, Dai (DAI) is currently trading at $1.00 with a market capitalization of approximately $5.36 billion and a 24-hour volume of over $110 million. Chairman Roberto Campos Neto affirmed that Brazil prioritizes more cautious oversight rather than a complete ban.