Brazil’s Halloween eve crypto deadline brings more tricks than treats
Summary
Brazilian crypto exchanges must apply for central bank authorization by Friday to keep operating during reviews that may take up to two years. Firms that miss the deadline must stop services within 30 days, and banks and payment institutions will face restrictions on transactions with unauthorized providers from Nov. 6. Exchanges still seek guidance on rules for self-custody transfers, a $100,000 limit on some international transfers and reporting thresholds. Compliance costs include capital requirements of 10.8 million to 37.2 million reais, audits and anti-money-laundering controls, potentially squeezing smaller operators and concentrating the market. Major exchanges including Binance, OKX and Coinbase have applied.
