Many BTC companies may have to close in Brazil

[rdluffy]

I just saw a post on CoinMarketCap’s X:


https://x.com/CoinMarketCap/status/2099421689662558425

We already know here in Brazil that the Central Bank is tightening the rules for BTC (and crypto) exchanges operating here, but there may be very few companies left due to the high requirements they’re imposing

Basically, only the big players or those with deep pockets will remain
Smaller companies may be acquired by larger ones

The government here has done this to several other sectors as well, increasing tax revenue and stifling an industry until practically nothing remains

Here’s a bit more information in English: https://www.kucoin.com/news/flash/brazil-s-new-capital-rules-force-290-crypto-exchanges-to-exit-market


Since the arrival of the giant Binance, coupled with the new regulations, some companies have already closed down,  there are few options left, and now there will be even fewer
Perhaps the market will shift to P2P, but Brazil is one of those countries that would rather stifle development than support and encourage small businesses to thrive

What’s the situation like in your country?

[abhiseshakana]

In my country, crypto positioned as a digital financial asset or commodity that can be traded through officially licensed institutions. The difference are my government approach for tightening minimum capital and legal compliance requirements, more planned unlike Brazil situation, which caused a shock due to its sudden implementation. Beside that if BCB act as crypto regulatory oversight body, in Indonesia authorized party, transfered from Bappebti(Commodity Futures Trading Supervisory Agency under the Ministry of Trade of the Republic of Indonesia) to the Financial Services Authority (it is an independent institution that regulates and supervises activities in the financial services sector in an integrated way) so crypto regulation and supervision not under Indonesia Central Bank.

Differences in the effects of transaction terms and compliance requirements on users between Brazil and Indonesia also has different impact. In Brazil, 24 hour delay rule for big transaction exceeding USD 10,000 make trader loseinstant execution dor international arbitrage. But in my country strict oversight without fund withholding which daily transaction processed instantly however KYC is  a must and to prevent money laundering every transaction must be reported and monitored by Financial Services Authority and The Financial Transaction Reports and Analysis Center (it is an independent institution in Indonesia established to prevent and combat money laundering and the financing of terrorism).

https://notabene.id/world/brazil
https://ojk.go.id/id/regulasi/documents/forms/allitems.aspx?rootfolder=/id/regulasi/documents/pages/padk-nomor-3-tahun-2026-penyelenggaraan-perdagangan-aset-keuangan-digital-termasuk-aset-kripto