The Central Bank of Brazil may withdraw the regulation prohibiting self-custody of stablecoins

ChainCatcher news, according to Bitcoin.com, the Central Bank of Brazil has acknowledged that it will withdraw its proposal to ban self-regulated stablecoins in the country if certain conditions are met.

In a public hearing, Renato Kiyotaka Uema, deputy head of the financial system regulatory department, stated that these terms are intended to make stablecoin transactions transparent, allowing only regulated exchanges to trade them. However, he emphasized that if there are technological solutions that can address this lack of transparency, the agency could cancel these proposed changes. "This is a public consultation, so if there are suggestions that can mitigate these risks, the technical department will strive not to interfere with the flexibility of the market."