Binance applied to the Central Bank of Brazil for a cryptocurrency service provider license on Friday, Oct. 23, through its local entity, BBrasil, according to a statement shared with Cointelegraph. The application is not regulatory approval. Existing providers must apply by Oct. 30 to continue operating under transitional arrangements.
Binance said the filing would let Brazilian users continue accessing crypto assets, stablecoin trading, payments and investment services. It also announced restrictions on crypto lending, margin trading and other services for Brazilian users, and said it is delisting 22 crypto assets in the country.
