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Brazil Central Bank Tightens Cryptocurrency Rules to Curb Fraud and Illicit Payments

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Brazil’s central bank has issued long-awaited regulations for virtual assets and cryptocurrencies, introducing stricter controls aimed at preventing money laundering, fraud, and terrorism financing.

The new framework, which takes effect in February 2026, extends traditional financial-sector safeguards to virtual-asset service providers (VASPs), including brokers, distributors, and exchanges operating in the country.

“New rules will reduce the scope for scams, fraud, and the use of virtual asset markets for money laundering,” said Gilneu Vivan, the bank’s director of regulation, during a press conference in Brasília.

Brazil, Latin America’s largest economy, approved its first legal framework for cryptocurrencies in 2022, but the rollout had been delayed pending regulatory guidance from the central bank. Authorities conducted four public consultations before finalizing the new rules.

Under the regulations, all virtual-asset transactions pegged to fiat currencies — such as the U.S. dollar or the Brazilian real — will be classified as foreign exchange operations. This also applies to international payments or transfers using cryptocurrencies, including those settled via cards or electronic platforms.

Central bank governor Gabriel Galipolo has voiced concerns over the rapid growth of stablecoins, which he said are increasingly being used as informal payment tools, often to bypass tax and oversight systems.

The new framework also mandates stronger governance, transparency, and internal control standards, as well as customer protection and compliance obligations for all crypto-related firms.

Analysts view the move as a major step in Brazil’s effort to bring digital asset markets under tighter regulatory supervision, as crypto adoption continues to expand across Latin America.

Hong Kong Passes Stablecoin Bill, Paving Way for Regulated Digital Currency Ecosystem

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Hong Kong has taken a major step toward becoming a global hub for digital assets, as its legislature on Wednesday passed a new stablecoin bill that establishes a licensing framework for fiat-referenced stablecoin issuers. The legislation marks a critical move toward the potential issuance of Hong Kong’s own regulated stablecoin.

Under the new law, any entity issuing stablecoins in Hong Kong — or even outside the city if the stablecoins are backed by Hong Kong dollars — must now obtain a license from the Hong Kong Monetary Authority (HKMA). The regulation outlines strict criteria for reserve asset management, redemption rights, and risk oversight, aiming to ensure investor protection and financial stability.

“This ordinance adheres to the ‘same activity, same risks, same regulation’ principle, with a focus on a risk-based approach to promote a robust regulatory environment,” said Christopher Hui, Secretary for Financial Services and the Treasury.

The move is part of Hong Kong’s broader strategy to position itself as a competitive player in the digital asset space, especially as global regulatory scrutiny on stablecoins continues to rise. Stablecoins, typically pegged to fiat currencies like the U.S. dollar, are widely used in crypto markets for transferring value between digital assets.

The HKMA has already launched a sandbox program for stablecoin issuers, and three participants are currently testing issuance models under regulatory supervision.

The new law is expected to take effect within the year, giving Hong Kong one of the most comprehensive and forward-looking stablecoin regimes in Asia, potentially attracting global fintech players and blockchain startups.

DAMAC and MANTRA Sign $1 Billion Deal to Tokenize Real Estate Assets in the Middle East

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Dubai’s leading developer DAMAC Group has entered into a landmark deal with MANTRA, a blockchain platform that specializes in tokenizing real-world assets (RWAs), to tokenize at least $1 billion worth of assets in the Middle East. The partnership, announced on Thursday, aims to convert rights to real estate and other assets into digital tokens on a blockchain, making them tradable and owned online.

DAMAC, a major player in Dubai’s real estate sector, has been expanding its investment portfolio to include global data centers. In a separate announcement earlier this week, DAMAC’s Chairman Hussain Sajwani and U.S. President-elect Donald Trump revealed plans to invest $20 billion in data centers across the United States in the coming years.

Amira Sajwani, DAMAC’s Managing Director of Sales & Development, expressed the company’s enthusiasm for exploring new technologies and innovation. “Partnering with MANTRA is a natural extension of our commitment to forward-thinking solutions,” she stated.

The first assets to be tokenized will be available on the MANTRA blockchain in the Middle East later this year. The partnership follows MANTRA’s earlier agreement with MAG Property Development to tokenize real estate assets worth $500 million, starting with a residential project in Dubai, the Gulf’s premier tourism and business hub.

The United Arab Emirates, and particularly Dubai, has been positioning itself as a global center for digital assets, including the cryptocurrency industry. In 2017, the Dubai Land Department launched a blockchain platform to record real estate contracts and link them to utility and telecom accounts, part of the city’s broader effort to attract leading companies in the digital and crypto sectors and establish robust virtual asset regulations.