ABcripto: Oppose the Brazilian central bank's 24-hour lock on stablecoin remittances

The Brazilian Crypto Economy Association ABcripto has requested that the Brazilian central bank suspend the proposal to set a 24-hour lock window for stablecoin remittances exceeding $10000. ABcripto believes that this measure affects transparent market participants of regulated entities and cannot restrict illegal participants. ABcripto President Julia Rosin stated that illegal participants typically avoid regulatory agencies and use opaque platforms. ABcripto claims that this locking measure weakens the instant settlement scenario of stablecoins and drives users to turn to unregulated service providers. According to Bitcoin.com News, the Brazilian central bank plans to classify stablecoins as electronic currencies.