Brazil's central bank has unveiled a proposal for new foreign exchange regulations that could impact cryptocurrency exchanges. The proposed rules, open for public consultation until November 2nd, aim to bring the largely unregulated forex industry under stricter oversight. While not directly targeting crypto trading, the regulations would affect platforms facilitating international money transfers or cryptocurrency sales in non-Brazilian currencies. Key measures include mandatory licensing, transaction data submission, designated entry/exit points for funds, and a $10,000 cap on single transactions. These changes could restrict crypto exchanges involved in cross-border operations.
Brazil's Central Bank Proposes Forex Rules Impacting Crypto Exchanges
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