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News Explorer — Brazilian CBDC Allows Government to Freeze Funds, Developer Finds

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Jul 16, 5:46 pm
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Brazilian CBDC Allows Government to Freeze Funds, Developer Finds

A blockchain developer has discovered that the Brazilian Central Bank Digital Currency (CBDC) has the ability to freeze funds and adjust balances. The government has not provided an explanation for this feature and tends to keep communication closed off to non-bankers. The ability to freeze or arrest amounts held in the CBDC system is protected by current legislation in Brazil, according to the Central Bank.

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