Binance seeks Brazil licence amid service cuts
Key points
- Binance submitted a Brazilian crypto services licence application on 23 October, ahead of the 30 October deadline.
- The exchange restricted eight products and removed 22 crypto assets from its Brazilian offering.
- The changes follow Brazil’s new authorisation requirements for cryptocurrency service providers.
Binance has applied for a Brazilian cryptocurrency services licence through its local entity, BBrasil, ahead of the 30 October deadline.
Brazilian rules require existing crypto service providers to submit authorisation applications by 30 October 2026.
Binance’s application seeks to preserve Brazilian customers’ access to crypto assets, stablecoin trading, payments and investment services.
From 27 October, Binance restricted eight products, including crypto lending, margin trading, mining services and token launch programmes.
The exchange also removed 22 crypto assets from its Brazilian offering, including Verge (XVG), Ethena USDe (USDE) and Secret (SCRT).
Under the revised structure, Binance Brasil handles customers’ payment accounts in Brazilian reais, while BBrasil provides permitted virtual asset services.
The regulatory framework requires crypto service providers to seek authorisation from the Central Bank of Brazil, with transitional rules applying to existing operators.
Binance’s application keeps the exchange in Brazil’s authorisation process, but filing alone does not guarantee regulatory approval.
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