Itaú Unibanco 1st major bank complying with Brazil's crypto rules
Business
Itau Unibanco is now the first major bank in Brazil to officially follow the country's new crypto rules.
They got their paperwork in before the October 30 deadline, so they're all set to keep offering digital assets like bitcoin and ether.
This move is part of a bigger compliance push under Brazil's new digital-asset rules.
Pre-approved banks can offer crypto
Since February, pre-approved banks can offer crypto services just by notifying the central bank: no lengthy approval process needed.
But if a bank misses the deadline, it has to stop all crypto services within 30 days.
Itau Unibanco now lets customers trade 15 cryptoassets, while other players like Mercado Bitcoin are still working on getting full approval under these updated laws.