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According to Cointelegraph, Thiago César, the CEO of fiat on-ramp provider Transfero Group, said that the crumbling of the FTX may have damaged Brazilian retail and institutional sentiment toward crypto. However, its impact won't affect everyday citizens — who will still use crypto for cross-border transactions. He also noted that uncertainty surrounding centralized crypto exchanges caused a “big outflow of funds” from exchanges in Brazil, with many looking into self-custody — estimating at least 20% of trading volume has been lost on exchanges so far. César said the FTX collapse will likely be used by local exchanges "as a lobbying tool" to push for regulations aimed at bringing international exchanges in line. César added that these crypto exchanges had been pushing for regulation in Brazil that would “segregate” local and international exchanges by taking away international exchange’s access to their global liquidity books. “They were proposing that regulation would enforce for example, that liquidity on the books in Brazilian reais be segregated from international books.” César explained that such regulation would hurt international exchanges as their main advantage comes from liquid, international global books.

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【FTX collapse won't impact everyday use of crypto in Brazil: Transfero CEO】According to Cointelegraph, Thiago César, the CEO of fiat on-ramp provider Transfero Group, said that the crumbling of the FTX may have damaged Brazilian retail and institutional sentiment toward crypto. However, its impact won't affect everyday citizens — who will still use crypto for cross-border transactions. He also noted that uncertainty surrounding centralized crypto exchanges caused a “big outflow of funds” from exchanges in Brazil, with many looking into self-custody — estimating at least 20% of trading volume has been lost on exchanges so far. César said the FTX collapse will likely be used by local exchanges "as a lobbying tool" to push for regulations aimed at bringing international exchanges in line. César added that these crypto exchanges had been pushing for regulation in Brazil that would “segregate” local and international exchanges by taking away international exchange’s access to their global liquidity books. “They were proposing that regulation would enforce for example, that liquidity on the books in Brazilian reais be segregated from international books.” César explained that such regulation would hurt international exchanges as their main advantage comes from liquid, international global books.

FTX collapse won't impact everyday use of crypto in Brazil: Transfero CEO

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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