Lemon Exits Brazil Over Crypto License Costs
Lemon will close Brazilian accounts on October 16 after exiting over licensing costs.Brazils PSAV rules require capital ranging from 10.8 million to 37.2 million reais.Lemon will redirect resources toward Argentina, Peru, and Colombia after leaving Brazil. Argentine crypto platform Lemon will shut down its Brazilian operations after determining that new licensing capital requirements are too costly for its local business. The company will end Lemon Card services on September 30 and automatically close Brazilian accounts on October 16. Lemon Leaves Brazil Ahead of Crypto Licensing Deadline Lemon said Brazils new virtual-asset service provider rules require a capital commitment it considers disproportionate to its local operations. The company therefore chose to leave the market rather than pursue a license under the current framework. Brazils PSAV regulatory framework took effect on February 2, 2026, introducing licensing requirements for companies providing virtual-asset services. The first phase of applications has a deadline of October 30. Capital requirements vary according to the type of crypto activity, ranging from 10.8 million to 37.2 million Brazilian reais. As a result, providers must also account for technology, compliance, reporting, and other operating expenses. Discover more Brokerages & Day Trading FINANCE Public Finance Lemons Brazilian business has about 15,000 users with remaining balances, according to the company. Meanwhile, it








