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2 Jun 2026, 14:43

Brazil adds audit requirement to Crypto licensing process

Brazil’s central bank reportedly introduced mandatory independent audits for crypto service providers. It will add another layer to the already tough rules in the country. According to the published rules, crypto firms that want a license or to renew an existing one will have to submit an independent auditor’s report. It will be a part of the approval process. It added that the audits must be carried out by professionals registered with Brazil’s securities regulator, the Comissão de Valores Mobiliários (CVM). Audit costs may squeeze smaller Crypto firms Regulators want auditors to assess whether crypto firms are doing the right checks. This includes proper anti-money laundering controls, counter-terrorism financing procedures, customer asset segregation, internal risk management systems, and employee compliance programs in place. If a firm fails in any of those checks, then it may struggle to obtain authorization to operate in the country. This comes in when the global crypto market is dealing with high selling pressure. Bitcoin price has dropped by more than 10% over the last 7 days. BTC is trading at $68,960 at press time. Brazil pushed the process back in 2022. Lawmakers approved the country’s first legal framework for virtual assets in that year. However, after one year, the federal government officially appointed the central bank as the primary regulator for crypto service providers. Watchdogs added some licensing requirements in 2025. This covered custody standards and anti-money laundering controls. It also added Stablecoin oversight and corporate governance obligations. The authority allowed the existing providers until October 2026 to comply. The central bank has not disclosed expected audit costs. Compliance experts suggest that independent reviews can easily run into tens or even hundreds of thousands of dollars. It depends on the size of the firm, transaction volumes, and custody arrangements. Big exchanges can manage this cost, but it’ll be difficult for smaller platforms and startups. Earlier, Cryptopolitan reported that Brazil banned prediction markets. Brazil raises the bar for Crypto exchanges In a report, Chainalysis mentioned that Brazil processed around $318 billion worth of crypto transactions in 2024 and 2025. This makes the country one of the crucial crypto markets in the world. The size of that market means most major exchanges will want to maintain a presence there. The question is whether all of them will be able to satisfy the growing list of regulatory requirements. What makes Brazil stand out is that regulators are not focusing on just one area. The framework combines licensing requirements, custody rules, Travel Rule compliance, stablecoin oversight, self-hosted wallet monitoring, and now mandatory independent audits. For global exchanges, market access is increasingly becoming a compliance exercise rather than a simple registration process. In other words, Brazil is no longer asking crypto firms to promise they are following the rules. It now wants third parties to prove it. Don’t just read crypto news. Understand it. Subscribe to our newsletter. It's free .

2 Jun 2026, 14:41

Bitcoin Plummets Under $69,000: Peter Brandt Names Only Trigger That Changes Bearish Outlook

Veteran trader Peter Brandt sets a key threshold to reverse his bearish bias for Bitcoin as the flagship cryptocurrency dips below $69,000.

2 Jun 2026, 14:40

MoneyGram Debuts MGUSD on Stellar, Polymarket $150M Bitcoin Bet in Dispute

Crypto News MoneyGram launched MGUSD, a US dollar stablecoin built on Stellar, marking the remittance firm's deepest move yet into blockchain -based cross-border payments. The token will be integra...

2 Jun 2026, 14:39

XRP Drops to $1.25 as Bear Trap Forms; RLUSD Launches in Turkey via 3 Platforms

XRP News XRP slipped to $1.25 on Tuesday following a broad-based digital asset sell-off, erasing the gains accumulated since early February. The decline placed the token squarely against a multi-ye...

2 Jun 2026, 14:32

Gold replaces US Treasuries as top global reserve asset, latest ECB report says

A recent report published by the European Central Bank today has stated that central banks globally now hold more gold than US government bonds and treasuries in their reserves for the very first time. Geopolitical tensions, concerns over a risk of sanctions, and a growing desire among some countries to lessen their exposure to dollar-denominated assets have been key factors driving this shift in central bank reserve allocations . The golden switch The ECB’s had assessed the international role of the euro over the past year and found that gold accounted for 27% of global central bank reserves as at the end of 2025. This figure stood at 20% just one year earlier. US Treasuries, however, moved in the opposite direction, falling from 25% to 22% through the same period of 2025, according to the report. Assets linked to the euro remained steady at 15% wtih no increase or drop. This ‘switch’ means gold has officially displaced the dominant reserve asset for the past few decades after the World Wars. The US government debt and treasuries served as the default store of value for central banks in managing exchange rate stability and liquidity. This has now switched actively to gold as a store of value. U.S. sanctions a catalyst After Russia’s invasion of Ukraine in 2022 and the war that followed, the US and its allies froze Russian dollar-based reserves in support of Ukraine. This move then prompted world governments to assess how much of their national wealth sat in assets the United States could restrict, and how this could be changed as noted by the ECB findings . ECB President Christine Lagarde addressed the trend directly in the report. “Geopolitical tensions continue to drive strong demand for gold among central banks,” Lagarde said. Gold, on the other hand, carries no such risk and cannot be frozen by a foreign government, a trait that became more attractive to central banks and world governments after the U.S.’ actions in 2022. Will this switch affect demand for the dollar? The results of the ECB’s assessment do not point to an immediate drop in demand for U.S. government debt. U.S. Treasuries continue to account for more than one-fifth of global foreign exchange reserves, while the dollar remains the dominant currency in international trade and finance. Notably, the ECB ‘s report also found that the euro’s share of global reserves had remained the same over the time period, which ultimately suggests the central bank value purchases are flowing primarily into gold rather than into competing reserve currencies. China, India, Turkey, and Poland have been the largest buyers of gold for their central banks in recent years, as gold purchases by governments have continued to rise since 2022. If you're reading this, you’re already ahead. Stay there with our newsletter .

2 Jun 2026, 14:24

Andrew Yang's Noble Acquires Crypto-Fueled Helium Mobile Service

Crypto-powered cell service Helium Mobile has been acquired by Andrew Yang's Noble, which will also utilize the underlying Helium network.