Argentine cryptocurrency exchange Lemon exits the Brazilian market and closes related businesses

Argentine cryptocurrency exchange Lemon has decided to cease local operations due to excessively high regulatory capital requirements in Brazil. Lemon will cease Lemon Card service on September 30th and automatically close all Brazilian accounts on October 16th. Lemon's application for the cryptocurrency business license required by the Brazilian central bank requires locking in a large amount of capital, which is disproportionate to the local business scale.