BTCUSD Today, February 7: Brazil Eyes Crypto Tax, Algorithmic‑Stablecoin Ban
Brazil stablecoin ban headlines and new crypto tax plans are in focus today. A congressional committee advanced Bill 4.308/2024 to prohibit algorithmic stablecoins and require fully backed reserves. With stablecoins near 90% of Brazil’s crypto volume, tighter rules may thin liquidity and widen spreads. BTCUSD trades near $68,128.83 as traders weigh LatAm flows. We explain how Brazil stablecoin ban risk and Brazil crypto tax proposals could shape pricing, liquidity, and short term sentiment for German investors.
What the Brazilian proposals include
Bill 4.308/2024 would prohibit algorithmic stablecoins and require fully collateralized reserves at qualified custodians. Issuers must publish attestations and meet disclosure standards….
