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No More Shortcuts: Brazil Mandates Crypto VASPs Follow Strict Securities Rules

July 3, 202604:30 AM
No More Shortcuts: Brazil Mandates Crypto VASPs Follow Strict Securities Rules

The Central Bank of Brazil has officially leveled the playing field by classifying VASPs (Virtual Asset Service Providers) under the Type 3 category. This strategic move mandates that crypto service providers adhere to the same stringent compliance requirements as traditional securities brokerages and distribution firms.

Crucially, the new regulatory framework excludes VASPs from the Segment 5 classification, denying them access to the simplified regime reserved for low-risk institutions. This shift underscores Brazil's commitment to institutional-grade oversight, ensuring that the crypto sector operates under the same rigorous governance standards as the broader financial market.

This is a summarized and adapted version by Artificial Intelligence. To read the complete original story, visit the official source.

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