Brazil Tightens Crypto Regulation: Digitra and Two Other Exchanges Adjust Business Operations

As Brazil's central bank advances the implementation of the Virtual Asset Service Provider (PSAV) authorization regime, local crypto trading platforms are undergoing a regulatory reshuffle. Digitra, Coinext, and Bitso have recently adjusted their business operations in Brazil. Among them, Digitra has ceased trading services and decided not to apply for PSAV authorization, effectively exiting the Brazilian market; Coinext, failing to meet minimum capital requirements, announced an orderly closure of its crypto trading business; Bitso chose to redirect its Brazilian retail customers to Mercado Bitcoin while retaining its institutional-facing business lines. According to Brazil's central bank regulations, existing platforms wishing to continue compliant operations in Brazil after the end-of-October deadline must submit PSAV authorization applications before that date. This round of adjustments may signal that Latin America's largest crypto market is accelerating into a deeper phase of compliance-driven consolidation.