Central Bank of Brazil: 30% of Crypto Exchanges Fail to Meet New Capital Requirements

On November 13, according to Bitcoin.com News, Ailton Aquino, Chief Inspector of the Central Bank of Brazil, stated at a meeting that nearly one-third of the 120 virtual asset service providers that submitted applications to continue operations before the October 30 deadline failed to meet the capital requirements outlined in the Central Bank's Resolutions No. 519 and 520. Depending on their classification, each institution must hold up to $7.2 million in capital, and related applications may be rejected following review.