Coinbase Applies for Brazil Crypto License Ahead of Friday Deadline

Coinbase has submitted an application to operate as a crypto service provider in Brazil, a day before the Oct. 30 cutoff. The filing went to the Central Bank of Brazil on Wednesday under the country’s virtual asset service provider framework. A company spokesperson said it does not expect the review to force any suspension of its current services in the country.

Why Brazil’s New Crypto Rules Matter

The central bank is rolling out fresh requirements on governance, customer asset protection and compliance. Existing providers must apply by the end of October.

Coinbase and Binance Take Different Paths

Coinbase also repeated its plan to bring its “Everything Exchange” strategy to Brazil, which could add foreign exchange and payments next to crypto trading, though each needs its own authorization. Binance applied on Oct. 23, but it has limited crypto lending and margin trading and delisted 22 assets to meet the new rules.