Right to self-custody of cryptocurrencies enters debate in the National Congress
#FazOL Brazil While the Central Bank (BC) advances in the regulation of cryptoassets through Public Consultation No. 111, Congresswoman Júlia Zanatta (PL-SC) presented Bill 311/2025 to guarantee the right to self-custody of cryptocurrencies.
The clash occurs amid criticism that the BC's proposal, detailed in 123 articles, restricts individual and constitutional freedoms.
Self-custody of cryptocurrencies
The BC's Public Consultation proposes including cryptocurrency services in the foreign exchange market, subjecting them to foreign capital rules and exchange controls.
The most controversial point is Article 76-F, which prohibits cryptocurrency brokers from transferring assets to non-resident self-custodial wallets. In addition, Article 76-N prohibits the transfer of stablecoins denominated in foreign currency (such as USDT) to private wallets.
In response, Bill 311/2025 declares the self-custody of cryptocurrencies, without intermediaries, as a universal right. In addition, it states that restrictive rules from the Central Bank, CVM or other entities that contravene the law will be invalid. Furthermore, the bill seeks to prohibit possible forced conversions to state digital currencies, such as the future Drex, the Digital Real.
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Congresswoman Julia Zanatta claims that the BC rules violate the decentralized essence of cryptocurrencies. She claims that the State cannot restrict the fundamental right to self-custody. Among the legal justifications are the right to property, free enterprise and privacy, as set forth in the Federal Constitution.
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