Brazil's cryptocurrency regulation tightens: Digitra and two other exchanges adjust their business layout

According to CriptoNoticias, as the Central Bank of Brazil advances the authorization system for virtual asset service providers (PSAV), local cryptocurrency trading platforms are facing regulatory reshuffling. Digitra, Coinext, and Bitso have recently adjusted their business layouts in Brazil.

Among them, Digitra has ceased trading services and decided not to apply for PSAV authorization, effectively exiting the Brazilian market; Coinext announced it would orderly close its cryptocurrency trading business due to not meeting the minimum capital requirement; Bitso has chosen to redirect its Brazilian individual retail customers to Mercado Bitcoin while retaining its institutional business line.

According to the regulations of the Central Bank of Brazil, existing platforms wishing to continue operating in compliance in Brazil after the deadline at the end of October must submit their PSAV authorization applications before then. This round of adjustments may indicate that the largest cryptocurrency market in Latin America is accelerating into a deep phase of compliance reshuffling.