The Central Bank of Brazil was suspected of adding a “freeze” to the CBDC


The creators of the digital real provided the possibility of “freezing” funds and adjusting balances. This conclusion was made by the developer Pedro Magalhaes, writes Decrypt.

The founder of the consulting company Web3 Iora Labs called on the Brazilian central bank to clarify the situation to the public.

The specialist referred to the analysis of the code submitted by the regulator API on Github. According to him, the authorities did not rush to explain.

“They usually do not communicate with representatives outside the banking sector. They don’t even have to care about public opinion.” Magalhaes commented.

According to journalist Viny Barbosa of Do Bitcoin, Brazilian authorities confirmed the validity of the concerns voiced by the specialist.

“According to the Central Bank, opportunity freeze or seize sumsstored in [этой системе]protected by applicable law, the reporter said.

Magalhaes originally suggested that the option would only apply to DeFi or CeFi “to complete the transaction under the smart contract.” The Central Bank explained that the regulator will be able to do this at any time.

Decrypt recalled that in the 1990s, the president of the country “froze” the finances of all citizens for 18 months.

According to Magalhaes, the only way to fight the central bank’s excessive control over the CBDC is to inform about it on social networks.

“The authorities will make every effort to introduce the digital real. They have every opportunity for this. The only thing I asked was to provide the code of smart contracts in order to know what the Central Bank is doing, ” – said the specialist.

The Brazilian regulator has scheduled the official launch of the CBDC for 2024. Its head, Roberto Campos Neto, said the design of the technology would serve as an incentive for banks to tokenize assets in order to increase efficiency.

Recall that in May 2023, the Central Bank of Brazil published the final list of participants in the pilot project of the digital real.

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