According to Huoxing Finance, as the Central Bank of Brazil advances the implementation of its Virtual Asset Service Provider (PSAV) licensing system, local cryptocurrency exchanges are undergoing a regulatory reshuffle. Digitra, Coinext, and Bitso have recently adjusted their business strategies in Brazil. Digitra has ceased its trading services and decided not to apply for a PSAV license, effectively exiting the Brazilian market. Coinext, having failed to meet the minimum capital requirement, announced it will orderly shut down its cryptocurrency trading operations. Bitso has chosen to redirect its individual retail customers in Brazil to Mercado Bitcoin while maintaining its institutional business line. Under Central Bank of Brazil regulations, existing platforms wishing to continue compliant operations in Brazil after the October 31 deadline must submit their PSAV license applications before then. This round of adjustments may signal that Latin America’s largest cryptocurrency market is accelerating into a deeper phase of regulatory compliance and consolidation.
Brazilian crypto regulators tighten rules; Digitra and others adjust operations
MarsBitShare
Summary
Brazil’s central bank is advancing its licensing framework for virtual asset service providers (VASPs), reshaping the classification landscape for crypto assets in the country. Digitra, Coinext, and Bitso have all adjusted their operations in response. Digitra has ceased trading and will not pursue VASP authorization, effectively exiting the market. Coinext is shutting down its trading business after failing to meet capital requirements. Bitso is migrating its retail clients to Mercado Bitcoin while maintaining its institutional business. Platforms must submit VASP applications by October 31 to remain compliant. These changes may reflect Brazil’s broader shift toward tighter compliance in liquidity and crypto markets.
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