Binance Applies for Brazil Crypto License Through Local Entity BBrasil, Delists 22 Tokens

Binance has filed for a cryptocurrency service provider license in Brazil ahead of the country's October 30 regulatory deadline, submitting its application to the Central Bank of Brazil on October 23 through its local entity, BBrasil. Filing on time allows existing providers to continue operating while the central bank conducts its review, meaning Brazilian users can retain access to stablecoin trading, payments and investment services in the interim.

Alongside the filing, Binance enacted immediate service changes for Brazilian users on October 27, restricting crypto lending and margin trading and delisting 22 crypto assets. The exchange said it hopes ongoing talks with the central bank will allow it to restore some of the curtailed services. Brazil ranks fifth globally for crypto use and recorded roughly $318.8 billion in on-chain volume over the past year, making it one of Latin America's most significant markets for the industry.