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Lemon Exits Brazil over Crypto Licensing Costs
Lemon has decided to close its Brazilian operations and terminate about 15,000 local accounts after finding the country’s new crypto licensing capital requirements too costly for its business. Lemon said Brazil’s new capital requirements were “disproportionate” to the size of…
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Cryptocurrency News | Cryptocurrency Prices | Market CapLemon exits Brazil over crypto licensing costs
Lemon has decided to close its Brazilian operations and terminate about 15,000 local accounts after finding the country’s new crypto licensing capital requirements too costly for its business. Lemon said Brazil’s new capital requirements were “disproportionate” to the size of…
Lemon announced that it will cease to operate in Brazil because the license required by the central bank requires the freezing of a capital that it considers disproportionate to its local scale. The exit foresees the end of Lemon Card on September 30 and the automatic closing of the Brazilian accounts on October 16.
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Leaning Left0Leaning Right0Center1Last UpdatedBias Distribution100% Center
Bias Distribution
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100% Center
C 100%
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