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Brazil Abandons Sanity Allows Crypto Chaos Unleash Pandemonium on the Economy

A chaotic scene unfolds as a giant cryptocurrency coin crashes into a cityscape with skyscrapers labeled 'Regulations' and 'Compliance', amidst flames and smoke, while tiny figures representing small crypto startups are seen fleeing in the background. In contrast, larger institutions like banks and brokerages loom large, symbolizing their ability to navigate the new framework.

Brazil’s Latest Foray into Cryptocurrency Regs – Because Who Needs Small Businesses Anyway?.

Source: bitcoin.com

The Central Bank of Brazil is preparing to open the cryptocurrency market to traditional finance institutions, which will be able to operate in this industry with clarity after the enactment of the upcoming regulation. Small crypto startups might face challenges in regularizing their situation due to the high bar this framework will impose. Brazilian authorities are preparing to lay the groundwork to allow traditional finance (tradfi) institutions, such as banks, […]

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