Banco Central do Brasil regulations threaten crypto exchange market

New regulations from the Banco Central do Brasil are expected to significantly consolidate the cryptocurrency market. Industry reports suggest that out of approximately 200 companies currently operating in Brazil, only about ten are expected to secure the necessary PSAV license to function as bitcoin exchanges by the October 30, 2026, deadline.

The regulatory framework includes high minimum capital requirements and withdrawal restrictions of up to 24 hours. Some firms, including BitNuvem, Coinext, NovaDAX, and Digitra, have reportedly already closed their operations. While these companies have not explicitly cited the new regulations as the cause for closure, industry experts have noted a rapid pace of regulatory changes that has forced some businesses to retreat from the market.