Argentine crypto app Lemon will shut all Brazilian operations, saying the Central Bank of Brazil’s virtual-asset licensing capital requirements are disproportionate to its local business. New Brazilian real deposits are already blocked, Lemon Card processing will end on Sept. 30, 2026, and accounts will close on Oct. 16, with about 15,000 users to receive withdrawal assistance. The exit follows Brazil’s PSAV framework, which took effect Feb. 2, 2026, ahead of an Oct. 30 first-phase licensing deadline and restrictions on unlicensed providers. Lemon said it would redirect capital to Argentina, Peru and Colombia, while other market developments show Brazil remains open to larger, well-capitalized firms.