Coinbase applied to Brazil’s central bank for authorization as a crypto service provider to keep its existing operations running under new rules. Existing providers must apply by the end of October to continue operating while their applications are reviewed. A Coinbase spokesperson said the company does not expect the review to require a suspension of its services.
Coinbase also reiterated plans to expand in Brazil into foreign exchange and payments, but those activities require separate authorizations. Binance has also applied and has restricted some services and delisted 22 crypto assets in Brazil to comply with the new rules.
