Tether announced a $20 million investment in Mercado Bitcoin, a Brazilian financial services company, as part of a strategic growth financing round that also included SoftBank. On Monday, the Brazilian Federal Police executed Operation Veil of Maya, targeting 87 shell companies involved in illegal betting and crypto money laundering. ABcripto, the Brazilian Cryptoeconomy Association, sent a letter to the Department of Financial Regulation opposing a proposed 24-hour lock window for stablecoin remittances exceeding $10,000. The investment aims to expand Mercado Bitcoin's payments infrastructure and tokenized investment offerings across Latin America. The police operation cracked down on entities using fiat and digital currency to launder funds for illegal betting activities. ABcripto argues the proposed stablecoin lock is disproportionate and requires more thorough research of the Brazilian cryptocurrency market before implementation.
Tether Invests $20 Million in Mercado Bitcoin for Latin America Expansion
Tether disclosed a $20 million investment in Mercado Bitcoin as part of a strategic growth financing round that also included SoftBank. Mercado Bitcoin operates as a Brazilian financial services company with over 4.5 million customers across Brazil and Europe. Tether qualified the company as "one of the most comprehensive regulated on-chain financial platforms in Latin America."
Mercado Bitcoin will use the funds to bankroll expansion improvements in its payments infrastructure, tokenized investment offerings, and on-chain capital markets. The company aims to establish a foothold in other countries in the region. The investment is part of a series of similar investments in payments and infrastructure companies that Tether is backing in Latin America.
Brazilian Federal Police Execute Operation Veil of Maya Against 87 Shell Companies
On Monday, the Brazilian Federal Police executed Operation "Veil of Maya," cracking down on an illegal betting ring that used shell companies to launder and redirect funds using fiat and digital currency. The operation targeted 87 companies, according to the Federal Police. The operation was codenamed "Veil of Maya" as it represents a facade that impedes the appreciation of reality, meaning these shell companies presented objectives that hid their true purposes.
Official numbers on transaction volumes have not been revealed. The specific use of crypto assets in the operations would be limited to the transference of funds abroad, according to the Federal Police.
ABcripto Opposes Central Bank's Proposed 24-Hour Stablecoin Lock
ABcripto, the Brazilian Cryptoeconomy Association, which groups industry giants such as Binance, Coinbase, Crypto.com, and Tether, introduced a document opposing an earlier proposal by the central bank. The central bank recommended a 24-hour lock window for stablecoin remittances. According to local media, ABcripto sent a letter to the Department of Financial Regulation (Denor) arguing that the measure is disproportionate and must be preceded by more thorough research of the Brazilian cryptocurrency market.
The proposed lock applies to transactions exceeding $10,000. As justification for this 24-hour lock, the bank cited a Chainalysis crypto crime report, noting that illicit transaction volumes had reached a record high in 2025. ABcripto agrees that regulatory groups must pursue fraudulent and illicit activity but contends the proposed measure is disproportionate.
FAQ
What did Tether invest in Mercado Bitcoin?
Tether invested $20 million in Mercado Bitcoin as part of a strategic growth financing round that also included SoftBank.
How many companies did Brazilian Federal Police target in Operation Veil of Maya?
The Brazilian Federal Police targeted 87 shell companies in Operation Veil of Maya, which was executed on Monday to crack down on illegal betting and crypto money laundering.
Why does ABcripto oppose the proposed stablecoin lock?
ABcripto argues the proposed 24-hour lock window for stablecoin remittances exceeding $10,000 is disproportionate and must be preceded by more thorough research of the Brazilian cryptocurrency market.
