Binance and Itaú filed requests to operate as regulated virtual asset service providers in Brazil ahead of the central bank’s October 30 deadline. The requests are under review; the source does not say either company has been licensed.
Valor Econômico reported that Binance applied through a newly formed Brazilian company and would keep offering financial products during the review. Binance has removed some products to comply with Brazilian rules and hopes to restore them with the regulator’s support. The source says capital, audit, anti-money-laundering and reporting requirements have led many smaller crypto firms to leave Brazil.
