Brazil Tightens Crypto Regulation, Prompting Operational Shifts at Major Exchanges

As the Central Bank of Brazil implements its Virtual Asset Service Provider (VASP) licensing regime, local exchanges are restructuring their operations. Digitra has ceased trading services and will not seek a license, effectively exiting the market. Coinext is winding down its crypto trading business due to capital requirement shortfalls. Bitso is transitioning its retail customers to Mercado Bitcoin while maintaining its institutional services. Platforms must submit license applications by the end of October to continue compliant operations.