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Brazil Regulator Warns 30% of Crypto Exchanges Fail New Capital Rules
Nearly one-third of the 120 cryptocurrency exchanges that filed to continue operating in Brazil as VASPs fail to reach the share capital required to operate in compliance with Central Bank regulations. The virtual assets service provider market is facing a reconfiguration in Brazil, with at least 30% of companies affected by the new capital requirements issued by the bank, which require institutions to hold up to $7.2 million in capital, depending on their classification.