Key facts
- Binance applied for a crypto license in Brazil on Oct. 23.
- The application was submitted to the Central Bank of Brazil.
- Binance is delisting 22 crypto assets for Brazilian users.
- The deadline for license applications is Oct. 30.
Binance has applied for a cryptocurrency service provider license in Brazil to continue operating in one of Latin America's largest crypto markets. The exchange submitted its application to the Central Bank of Brazil on Friday, Oct. 23, through its local entity, BBrasil. The filing aims to allow Brazilian users to continue accessing crypto assets, stablecoin trading, payments, and investment services. However, Binance is also delisting 22 crypto assets and restricting services like crypto lending and margin trading for users in the country, effective Tuesday. Brazil requires existing crypto service providers to submit authorization applications by Oct. 30 to operate under transitional arrangements, though filing does not guarantee approval.