🇧🇷 Brazil Central Bank considers banning self-custody stablecoins as the $BRL collapses against the $USD in forex markets.

Brazil’s Central Bank (BCB) has unveiled a proposal to effectively ban the transfer of stablecoins to self-custody wallets.

This happens amid the Brazilian Real (BRL) hitting an all-time low against the US Dollar (USD), raising local economic concerns.

The draft regulation aims to tighten control over cryptocurrency operations, in particular foreign-backed stablecoins, aligning them with traditional financial regulations.