Binance Shuts Brazilians Out of New Loans and Margin Ahead of a Licensing Deadline

Binance said it has applied to Brazil’s central bank for authorization to keep offering crypto services in the country, as a set of product cuts for Brazilian users it announced earlier this month kicked in on Tuesday. According to a Binance statement, the request went to the central bank on Friday, Oct. 23 , under BBrasil Sociedade Prestadora de Serviços de Ativos Virtuais Ltda. , the group’s Brazilian crypto entity. The application is pending. A filing is not an authorization , and Unchained found no public acknowledgment of the request from the Banco Central do Brasil (BCB). Thiago Sarandy, Binance’s general manager in Brazil, said in the statement that Binance wants to put products it pulled for compliance back in front of Brazilian users in the near future, giving them…

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