The Brazilian central bank has fined Banco Top á zio approximately $3.15 million and banned it from engaging in over-the-counter foreign exchange trading of cryptocurrency assets for two years On May 13th, the Administrative Sanctions Procedure Decision Committee under the Central Bank of Brazil imposed a fine of approximately $3.15 million on Banco Top á zio and banned it from conducting over-the-counter foreign exchange business for virtual asset trading for the next two years. Regulatory authorities stated that Banco Top á zio had insufficient customer qualification review, customer registration, and anti money laundering and counter-terrorism financing controls when processing approximately $1.7 billion in related business between October 2020 and September 2021, and did not report abnormal transactions to Coaf. Brazilian central bank officials have stated that similar restrictive measures may also apply to other institutions involved in the cryptocurrency business in the future.