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According to Cryptoslate, the Central Bank of Brazil (BCB) has announced a regulatory proposal to prohibit centralized exchanges from allowing users to withdraw stablecoins into their self preservation wallets. According to a public consultation notice, the transfer of stablecoins (known as "foreign currency denominated tokens") between residents will be restricted in Brazil, where foreign currency payments are already allowed by law. This move is part of Brazil's crypto regulatory bill approved in December 2022, which designates the BCB as responsible for formulating rules for the country's crypto industry. The public consultation will continue until February 28, 2025, and market participants can share their opinions with regulatory agencies. However, BCB can overturn the opinion and act as described in the document. @ftihvb