Brazil's Central Bank Governor Roberto Campos Neto said at an event on cryptocurrencies that he believes credit cards will soon cease to exist due to the development of an open financial system, according to Reuters. Additionally, Campos Neto said he does not agree with strict regulation of crypto assets, but highlighted concerns about custody concentration as four firms currently hold 80% of crypto assets. Brazilian regulators want to ensure transparency in how cryptocurrencies are traded, created and exchanged.