Mercado brasileiro amadurece e enfrenta ameaças cada vez mais sofisticadas: como as tendências globais do crime com cripto estão chegando ao maior mercado da América Latina

An analysis of illicit cryptocurrency flows into Brazilian exchanges (2023–2025) showing convergence of Chinese-language money-laundering networks (CMLNs), sanctions-evasion by Russian entities, and drug cartel proceeds — driving large stablecoin-denominated volumes and concentrated risk in a small number of deposit addresses — and highlighting urgent regulatory and operational implications for Brazil’s new SPSAV licensing and AML/CTF reporting regime.