A view shows the headquarters of Brazil's central bank in Brasilia, Brazil, August 25, 2021. REUTERS/Amanda Perobelli/File Photo Acquire license rights
BRASILIA, Sept 27 (Reuters) - Brazil's central bank governor Roberto Campos Neto said on Wednesday that authorities intend to tighten regulation of cryptocurrencies and subject brokerages to their supervision.
During a congressional hearing, Campos Neto emphasized that regulators will examine the support of cryptocurrencies and associated activities, given the significant increase in cryptocurrency imports by Brazilians.
Data released by the central bank this week revealed that cryptocurrency imports increased by 44.2% from January to August compared to the same period last year, totaling $7.4 billion.
There is a perception that local demand has shifted toward stablecoins, which are cryptocurrencies typically pegged to real-world assets like the US dollar, and people are using cryptocurrencies more as a means of payment than just as an investment, Campos Neto said. .
"We understand that many things are related to tax evasion or illicit activities," he added.
Campos Neto also mentioned the digital currency of the Brazilian central bank DREXInitially scheduled to launch at the end of next year, it is expected to play a role in the world of crypto assets in Brazil.
Reporting by Marcela Ayres Editing by Chris Reese
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