Coinbase Files for Brazil Crypto License Before Oct. 30 Deadline

Coinbase filed for authorization to operate as a crypto service provider in Brazil on Wednesday, Oct. 28, ahead of an Oct. 30 deadline for existing providers seeking to continue operating under transitional rules. The Central Bank of Brazil is reviewing applications under rules covering governance, customer asset safeguards and compliance. Providers that apply by the deadline can keep operating while their applications are under review. A Coinbase spokesperson said, “We do not expect the application review to require a suspension of our existing services.” Binance filed its application on Oct. 23 and has restricted crypto lending and margin trading in Brazil while preparing to remove 22 assets. The exchange’s Brazil application and planned delistings came ahead of the same deadline.

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