According to Cointelegraph, Brazil is contemplating a ban on stablecoin transfers to self-custodial wallets, coinciding with the Brazilian real reaching unprecedented lows against the US dollar. On November 29, Banco Central do Brasil (BCB) proposed a regulation to prohibit the transfer of stablecoins, such as Tether’s USDt (USDT), to self-custodial wallets like MetaMask. This proposal is part of a draft regulation open for public consultation until February 28, 2025. The proposal explicitly states that virtual asset service providers are forbidden from transferring virtual assets denominated in foreign currency to self-custodial portfolios. This move aligns with Brazil's broader strategy to enhance oversight of the foreign exchange market and regulate Brazilian capital abroad. The BCB aims to amend existing 2022 resolutions concerning virtual asset service providers (VASPs) in the foreign exchange market. The central bank's proposal seeks to expand the scope of the foreign exchange market to include activities such as crypto payments, sales, custody, and transactions in foreign currency. Under this proposal, VASPs would be required to provide the BCB with detailed information, including client verification and transfer values. The rationale behind the focus on self-custodial wallets is that, unlike centralized exchanges, these wallets do not require user information for transactions, offering full ownership and accountability of assets. While some advocates of self-custody argue that regulators can limit the use of self-custodial wallets, they cannot completely ban them. The BCB's proposal comes amid a significant depreciation of the Brazilian real against the US dollar, with the real losing at least 23% of its value since January 1, reaching an all-time low of 6.09 reals per dollar on November 29. The cryptocurrency community has linked Brazil's proposal to restrict stablecoin transactions to the declining value of the real. Some voices in the community, like Area Bitcoin co-founder Carol Souza, have suggested that the government is attempting to limit financial exits as the real collapses. Brazil is a significant market for stablecoins, with the local community increasingly using them to hedge against the real's depreciation. According to Chainalysis, Brazil was the second-largest market globally for stablecoin transactions last year, with stablecoin volumes accounting for 59.8% of its entire crypto market. In the past year, Brazil saw $90 billion in crypto inflows, trailing Argentina by just $1 billion.

Analysts said that due to profit-taking and heavy selling, Bitcoin prices have been hindered from rising. BRN analyst Valentin Fournier emphasized that Bitcoin faces major obstacles to breaking through $100,000. He believes that despite strong market catalysts and growing investor confidence, Bitcoin is still struggling to break through the psychological price barrier of $100,000. Profit-taking is obvious, and it will take more than 4,000 Bitcoins (worth about $384 million) to clear the selling barrier to achieve higher price levels. (TheBlock)

Brazil, the second-largest market for stablecoin transactions, could be set to ban stablecoin withdrawals to self-custodial wallets like MetaMask. source: https://cointelegraph.com/news/brazil-ban-stablecoin-withdrawal-self-custodial-wallets?utm_source=rss_feed&utm_medium=rss&utm_campaign=rss_partner_inbound

Bitcoin is facing resistance near the $100,000 mark due to profit-taking and a stack of sell orders worth $384 million, an analyst said. source: https://www.theblock.co/post/328919/bitcoin-price-drop-profit-taking-sell-wall-rally?utm_source=rss&utm_medium=rss

Binance co-founder Changpeng “CZ” Zhao says he would welcome a Presidential pardon but doesn’t want to be CEO again. source: https://decrypt.co/294287/donald-trump-pardon-binance-ceo-cz

A trader known for making timely altcoin calls is revealing his true bull market price target for memecoin Dogecoin (DOGE). Pseudonymous analyst Bluntz tells his 300,100 followers on the social media platform X that he believes DOGE will go much higher than most people expect. The analyst looks at Dogecoin versus Bitcoin (DOGE/BTC) to forecast […] The post Top Trader Unveils ‘Real’ Price... source: https://dailyhodl.com/2024/12/02/top-trader-unveils-real-price-target-for-dogecoin-says-doge-now-in-monster-uptrend/

According to The Data Nerd's monitoring, 15 minutes ago, it was suspected that DWF Labs transferred 6 million USDT to Bybit.

The post Metaplanet Gives Shareholders Free Bitcoin, Stock Soars Over 6%! appeared first on Coinpedia Fintech News Metaplanet, often referred to as Japan’s MicroStrategy, has partnered with SBI VC Trade to launch a Bitcoin-focused shareholder reward program. The company plans to distribute 30 million yen worth of Bitcoin to 2,350 shareholders. This announcement pushed Metaplanet’s stock up by... source: https://coinpedia.org/crypto-live-news/metaplanet-gives-shareholders-free-bitcoin-stock-soars-over-6/

Crypto asset innovation laboratory SuperFi Labs announced the completion of a $2.5 million financing round, led by Linklogis, a listed company in supply chain fintech, and participated by SNZ, Taiko, ByteTrade, etc. Previously, Generative Ventures, as an early investor, invested in its angel round. The new funds will be used for product research and development, market expansion and team building, and promote the launch of RWA products on the asset side and Defi products on the capital side.

The post Breaking: MARA Holdings Announces Raising $805M More To Buy BTC appeared first on Coinpedia Fintech News In the latest announcement, Marathon Digital has revealed its plans to offer $700 million in convertible senior notes due 2031 in a private offering, subject to market conditions and other factors. MARA also expects to grant to the initial purchasers of the notes an option to... source: https://coinpedia.org/news/breaking-mara-holdings-announces-raising-805m-more-to-buy-btc/

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