Whenever a government introduces new regulations, there will be consequences. Brazilian officials have taken a tough stance against cryptocurrency service providers in the country. It was a matter of time until official crypto regulation came to be in Brazil. Crypto Regulation in Brazil It is one of the countries where Bitcoin and other currencies continue to gain a lot of traction. However, the government doesn’t want to leave this industry unchecked. Under the new regulation, the going will get tough for certain service providers. Two local exchanges have already shut down, with more to potentially follow. Both companies would face
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