Brazil’s central bank raises VASP capital requirements.
The regulator sets minimum capital for virtual asset service providers between R$10.8 million and R$37.2 million.
That equals roughly $2.1 million to $7.2 million, depending on business type and risk.
The final figures sit far above earlier draft levels.
Rules also demand stronger governance, internal controls, anti-money laundering measures, audits and ongoing reporting.
Industry estimates suggest only about 10 firms will secure licenses.
Many smaller platforms already exit or restructure retail operations.
The tighter framework aims to align crypto firms with traditional financial standards.
$XAU $XRP $SNDK
#brazilcentralbankraisesvaspcapitalrequirements
The regulator sets minimum capital for virtual asset service providers between R$10.8 million and R$37.2 million.
That equals roughly $2.1 million to $7.2 million, depending on business type and risk.
The final figures sit far above earlier draft levels.
Rules also demand stronger governance, internal controls, anti-money laundering measures, audits and ongoing reporting.
Industry estimates suggest only about 10 firms will secure licenses.
Many smaller platforms already exit or restructure retail operations.
The tighter framework aims to align crypto firms with traditional financial standards.
$XAU $XRP $SNDK
#brazilcentralbankraisesvaspcapitalrequirements