Brazil's central bank has released cryptocurrency regulatory rules, setting a maximum capital threshold of $7 million.

The Central Bank of Brazil has officially announced a regulatory framework for the cryptocurrency industry, requiring all Virtual Asset Service Providers (VASPs) to obtain a license from the central bank and hold at least 10.8 million to 37.2 million reais (approximately US$2 million to US$7 million) in capital, depending on the type of business. The new regulations bring cryptocurrency activities under the supervision of the foreign exchange and capital markets, requiring companies to regularly report cross-border transaction data and imposing restrictions on transactions involving stablecoins, self-custodied wallets, and cryptocurrency-to-fiat currencies.