Brazil's central bank has released cryptocurrency regulatory rules, setting a maximum capital threshold of $7 million.

According to Odaily, the Central Bank of Brazil has officially announced a regulatory framework for the cryptocurrency industry, requiring all Virtual Asset Service Providers (VASPs) to obtain a license from the central bank and hold at least 10.8 million to 37.2 million reais (approximately 2 million to 7 million US dollars) in capital, depending on their business type. The new regulations bring cryptocurrency activities under the supervision of the foreign exchange and capital markets, requiring companies to regularly report cross-border transaction data and imposing restrictions on transactions involving stablecoins, self-custodied wallets, and cryptocurrency-to-fiat currency exchanges.