Brazil tightens rules as 3 crypto exchanges restructure or exit

Major crypto exchanges in Brazil are suspending retail trading services or overhauling their business models as the Central Bank of Brazil, or BCB, sharply tightens approval reviews and regulation for virtual asset service providers, Cryptonoticas reported. Digitra withdrew its application for PSAV authorization and fully halted trading services as of Sept. 8. Coinext also decided to end services after failing to meet the central bank’s minimum capital requirement. Bitso plans to transfer its retail trading business for Brazilian customers to Mercado Bitcoin.