Argentine Exchange Lemon Withdraws from Brazil Due to High Capital Requirements

Argentine cryptocurrency exchange Lemon has announced its withdrawal from the Brazilian market, citing high capital requirements necessary for obtaining local licensing. The company stated that Brazil's central bank requires an excessive amount of capital relative to the scale of operations, making it impractical to secure a license. Lemon Card services will cease on September 30, with user accounts in Brazil scheduled to be automatically closed on October 16.