PANews reported on November 30 that according to Cryptoslate, the Central Bank of Brazil (BCB) has published a regulatory proposal that prohibits centralized exchanges from allowing users to withdraw stablecoins to self-insured wallets. According to the public consultation notice, the transfer of stablecoins (called "foreign currency-denominated tokens") between residents will be restricted in cases where Brazilian law already allows payments in foreign currencies. The move is part of Brazil's crypto regulatory bill approved in December 2022, which determines that the BCB is responsible for formulating rules for the country's crypto industry. The public consultation will last until February 28, 2025, and market participants can share their opinions with regulators. However, the BCB can overturn the opinion and act as described in the document.