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Brazil eyes prohibition on stablecoin withdrawals to self-custody wallets – TON BOT

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Brazil eyes prohibition on stablecoin withdrawals to self-custody wallets

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The Central Bank of Brazil has proposed regulations that would prohibit centralized exchanges from allowing users to withdraw stablecoins to self-custodial wallets. The move aims to adapt the financial system to digital assets while safeguarding international capital flows. The proposed rules also aim to enhance legal certainty for businesses and individuals in the crypto industry. The public consultation on the regulations will be open until Feb. 28, 2025. According to data from Brazil’s Internal Revenue Service, stablecoins represented 71.4% of all the value transferred in crypto in September, with Tether USD dominating the market.

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