Brazil’s crypto exchanges face an application deadline on Friday, with costly requirements and unanswered regulatory questions complicating compliance.
Cryptocurrency exchanges operating in Brazil face mounting compliance costs and unanswered regulatory questions ahead of a license application deadline.
Exchanges already operating in Brazil must apply for authorization by Friday to continue operating, but the cutoff date is just the start of a lengthy compliance process.
“Filing is the easy part,” Fabio Cendão, founding partner at Brazilian law firm FCM Law, told Cointelegraph, pointing to challenges such as high capital requirements, complex compliance obligations and recurring audits.
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