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Only 40 crypto firms apply in Brazil as licensing deadline culls VASPs

Only 40 crypto firms apply in Brazil as licensing deadline culls VASPs
AI summary

Brazil's October 30 licensing deadline for virtual asset service providers left only 40 applicants out of an expected 150-200 firms. The consolidation has pushed many companies to exit Brazil as compliance requirements and costs rise. Traders should watch for reduced local liquidity and fewer venues serving Brazilian crypto users.

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