Techub News, citing Crypto.news, reported that only about 40 institutions had entered Brazil’s crypto licensing process as of Oct. 30 in Brazil time, a figure described as well below initial expectations. The assessment was attributed to Brazilian law firm Panucci, Severo e. The report also noted that the same cutoff corresponds to Oct. 31 in Beijing time. No further breakdown of the applicants or the licensing stages was disclosed in the source brief. The update points to a slower-than-expected pace in the process, based on the law firm’s assessment as cited by the report.
Only about 40 institutions had entered Brazil’s crypto licensing process as of Oct. 30 local time in Brazil, according to Techub News, which cited Crypto.news.
The figure was said to be well below initial expectations. The assessment was provided by Brazilian law firm Panucci, Severo e. The same deadline corresponds to Oct. 31 in Beijing time.
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