BrazilIntensifiesCryptoRegulation,DigitraandTwoOtherExchangesAdjustBusinessOperations
Odaily News - As Brazil's central bank advances the implementation of the Virtual Asset Service Provider (PSAV) authorization framework, local crypto trading platforms are undergoing a regulatory shakeout. Digitra, Coinext, and Bitso have recently adjusted their business operations in Brazil.
Among them, Digitra ceased trading services on September 8 and decided not to apply for PSAV authorization, effectively exiting the Brazilian market; Coinext, failing to meet minimum capital requirements, announced an orderly closure of its crypto trading business; Bitso chose to redirect its Brazilian retail customers to Mercado Bitcoin while retaining its institutional-facing business lines.
According to regulations set by Brazil's central bank, existing platforms that wish to continue compliant operations in Brazil after the end-of-October deadline must submit PSAV authorization applications before then. This round of adjustments may signal that Latin America's largest crypto market is accelerating into the deep end of compliance-driven consolidation. (CriptoNoticias)
