CoinVoice has recently learned that, according to Cryptoslate, the Central Bank of Brazil (BCB) has announced a regulatory proposal that prohibits centralized exchanges from allowing users to withdraw stablecoins to self-custody wallets. According to the public consultation notice, the transfer of stablecoins (referred to as 'foreign currency-denominated tokens') between residents will be restricted in cases where Brazilian law already permits payment in foreign currency.
This move is part of the cryptocurrency regulation bill approved by Brazil in December 2022, which designates the BCB as responsible for establishing rules for the country's cryptocurrency industry. The public consultation will continue until February 28, 2025, during which market participants can share their opinions with the regulators. However, the BCB can override opinions and act as stated in the document. [Original link]
