A new draft law in the Brazilian Congress aims to nullify the Central Bank's recent stablecoin regulations, accusing the bank of exceeding its authority. Led by Representative Rodrigo Valadares, the proposal argues that the classification of stablecoin transactions as foreign-currency operations could lead to new taxes and negatively impact the crypto industry. The draft highlights a potential $2 billion financial burden on users and claims the regulations violate constitutional principles, potentially harming Brazil's competitiveness in the global market.