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Brazilian Digital Bank Nubank Faces Brand Name Compliance Issue

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Brazilian digital financial services firm Nubank is dealing with compliance obligations tied to its brand name. The Central Bank of Brazil passed rules in November barring non-bank entities from using the word “bank” in their names. Nubank, which lacks a banking license, is now seeking to acquire a licensed institution to stay compliant. The move comes amid tightening digital asset regulation in the region. (Source: TechFlow)
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