Binance files for Brazil crypto license ahead of Friday deadline
Summary
Binance applied to Brazil’s Central Bank for a crypto service provider license through its local entity, BBrasil, ahead of an Oct. 30 deadline for existing providers to seek authorization. The filing aims to preserve Brazilian users’ access to crypto, stablecoin trading, payments and investment services, but does not amount to approval. To comply with current rules, Binance is restricting lending, margin trading and other services and delisting 22 crypto assets in Brazil. The company said it hopes further dialogue with regulators will allow it to restore some discontinued products.
