Brazil's central bank announced that Phase 3 of the Drex CBDC pilot will temporarily abandon blockchain to focus on tokenized collateral. Meanwhile, Latam stocks ETF surged over 45% YTD, and the government plans stricter crypto compliance rules to target organized crime.
The Central Bank of Brazil has abandoned the decentralized elements of its CBDC project Drex to meet a 2026 launch deadline, citing immature privacy solutions. The project will roll out in two phases.
The Central Bank of Brazil has decided to abandon most blockchain and tokenization features of its CBDC project Drex, aiming for a centralized launch in 2026 due to immature privacy solutions. A second phase will later reintroduce blockchain technology.
Vermelho, a news portal linked to Brazil's Communist Party, praises China's digital yuan as a disruptive innovation that could end dollar hegemony. The article also warns about the surveillance potential of CBDCs.
Brazil’s Drex pilot has slowed after no privacy proposal met central bank standards, prompting Microsoft and EY to reduce staffing on related solutions while officials continue reviewing the project’s next steps.
Brazil’s CBDC pilot Drex has stalled after no privacy proposal won central bank approval in phase two. Microsoft and EY have reduced staffing on related solutions, while officials say the project’s future steps are still under review.
