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Brazilian Central Bank Releases Cryptocurrency Regulation, Sets Up to $7 Million Capital Threshold
Summary: According to reports, the Brazilian Central Bank 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 capital ranging from 10.8 million to 37.2 million Brazilian reais (approximately $2 million to $7 million) depending on the type of ...
According to reports, the Brazilian Central Bank 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 capital ranging from 10.8 million to 37.2 million Brazilian reais (approximately $2 million to $7 million) depending on the type of business. The new regulations will bring cryptocurrency activities under the scope of foreign exchange and capital market supervision, requiring companies to regularly report cross-border transaction data and setting restrictions on stablecoins, self-custody wallets, and cryptocurrency-to-fiat exchanges.
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Link: Brazilian Central Bank Releases Cryptocurrency Regulation, Sets Up to $7 Million Capital Threshold [Copy]
