Binance applies for crypto license in Brazil ahead of regulatory deadline

Binance applied for a Central Bank of Brazil cryptocurrency license on October 23, 2026, through its local entity BBrasil ahead of an October 30 deadline. Under Resolution No. 520, on-time applicants may operate during regulatory review, while non-compliant firms face closure within 30 days. To align with rules, Binance restricted lending and margin trading on October 27 and delisted 22 crypto assets.

Binance applies for license in Brazil

• ▪Binance submitted an application for a cryptocurrency service provider license to the Central Bank of Brazil, through its local entity, BBrasil
• ▪Binance stated that its Oct. 23 license filing will enable Brazilian customers to preserve access to crypto assets, stablecoin trading, payment services, and investment products
• ▪Binance applied for regulatory authorization to maintain its presence in Brazil, which represents one of the largest cryptocurrency markets in Latin America

Brazil Central Bank licensing rules and deadlines

• ▪Virtual asset service providers in Brazil that file authorization applications on time are permitted to continue operating during the Central Bank of Brazil's review process
• ▪Resolution No. 520, issued by the Central Bank of Brazil in November, required existing virtual asset service providers to apply for regulatory authorization by October 30, 2026, within 270 days of rules taking effect on February 2, 2026
• ▪Cryptocurrency service providers operating in Brazil that miss the October 30, 2026 license application deadline are required to cease operations within 30 days

Binance restricts services for compliance

• ▪Binance restricted crypto lending, margin trading, and other services for Brazilian users beginning to comply with central bank rules
• ▪Binance removed 22 crypto assets from its Brazilian platform as part of compliance measures implemented ahead of the Oct. 30 central bank application deadline
• ▪Thiago Sarandy, Binance's general manager in Brazil, stated that the company hopes ongoing dialogue with the Central Bank of Brazil will allow future restoration of products discontinued to comply with current regulations

Central Bank of Brazil regulations

• ▪Filing an authorization application with the Central Bank of Brazil does not constitute regulatory approval for virtual asset service providers
• ▪Central Bank of Brazil Resolution No. 520 restricts lending, fundraising, and investments in financial institutions while requiring custodians to protect private keys and maintain customer records