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Brazil's new iGaming regulations, outlined in Normative Ordinance Number 615, ban credit cards, cryptocurrency, and cash for gambling payments, requiring electronic transfers authorized by the Central Bank. Operators must ensure payments go to registered accounts, with intermediaries prohibited except for certain Central Bank-authorized institutions. Prize payments on winning bets must be made within 2 hours, and operators must provide players with virtual accounts for monitoring betting habits and financial details, while also managing a financial reserve of at least 5 million Brazilian Real to mitigate liquidity risk.
Source: https://www.casinonewsdaily.com/blog/2024/04/19/brazil-bans-the-use-of-credit-cards-and-crypto-for-igaming-payments/
Source: https://www.casinonewsdaily.com/blog/2024/04/19/brazil-bans-the-use-of-credit-cards-and-crypto-for-igaming-payments/