Brazil’s largest state considers suspending Pix payments
São Paulo legislature examining payments system shutdown as an anti-crime measure
Brazil’s largest state is threatening to shut down the Pix retail payments system, claiming that it is vulnerable to thefts and coerced transfers.
On November 30, the Legislative Assembly of São Paulo voted to fast-track a proposed law that would “suspend” Pix until the central bank implemented new security measures.
State legislator Campos Machado first introduced the proposal in September. The measure would “suspend” the central bank resolution that establishes Pix until the central bank
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