Crypto exchanges already operating in Brazil must apply for authorization to keep operating, but filing begins a review that can take up to two years, according to lawyer Fabio Cendão. Platforms that apply on time can operate during the review; new entrants need authorization before launching regulated services. Companies that miss the deadline must stop providing services within 30 days, according to lawyer Marcelo de Castro Cunha Filho.
From Nov. 6, banks and payment institutions will face restrictions on crypto transactions with unauthorized providers. Binance Brazil’s Thiago Sarandy said exchanges still lack clarity on self-custody wallet checks, a $100,000 operational limit and reporting thresholds. Cendão said capital requirements of 10.8 million to 37.2 million reais ($2 million at the lower end), plus audits and other controls, could make compliance unviable for smaller exchanges.
