Binance Faces Brazil License Review After Major Service Cuts

TLDR Binance applied for a crypto license in Brazil on October 23, ahead of the October 30 deadline. Brazilian regulators will review the application while the exchange continues operating under transitional rules. Trading restrictions took effect on October 27, affecting 22 crypto assets and eight services. Customers can still access supported spot trading and stablecoins despite the new restrictions. Account migration to Binance’s local Brazilian entity is scheduled for completion by October 29. Regulatory reporting requirements for cross-border crypto transfers will take effect on November 1. Binance has applied for a crypto service provider license in Brazil, seeking to continue operating ahead of the October 30 deadline. The exchange filed on October 23, days before new restrictions on its Brazilian trading services took effect.

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