Sure there is. The government has the responsibility to create a free market. If a proprietary standard wins, you have a monopoly without competition. If the government standard wins that enables interoperability, no company can block other competitors.

Europe did the same and it worked.

Facebook is a very unique position here, don't play it as "free market" when one player has control over more than 50% of the messaging communication going on in Brazil, Bacen is blocking the current implementation of WhatsApp Pay, doesn't mean if they integrate with PIX they won't be allowed. If they don't integrate with PIX then it's quite easy, given their position, to force users to stay only inside their platform, with PIX they are allowed to participate in the larger ecosystem, it's a better solution for all.

There is no competition when network effects take hold and create a de facto monopoly, like with messaging apps.

Facebook a multi hundred billion $ company vs much smaller companies in Brazil. I would think that the government here did the right thing. Let your home grown companies grow first, then let them compete openly with foreign companies.

If companies are people, then companies in many 3rd world countries are children. You don't let adults hit children until they grow to be adults.