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Brazil’s central bank announces stricter rules for fintechs

RIO DE JANEIRO, BRAZIL - Brazil's central bank on Friday announced stricter rules for fintechs, noting that payment institutions are now subject to regulations based on their size and complexity, and also increased standards for required capital.

The new framework is set to take effect in January 2023 and be fully implemented in January 2025.

The measure is expected to affect companies such as Nubank, payments company PagSeguro, financial technology solutions company StoneCo, and digital wallet PicPay.

The calculation of regulatory capital will now exclude assets that are of little or no value to the operations of payment institutions, the . . .

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