Binance Brazil license bid filed as 22 tokens are delisted before the deadline

Binance wants to keep serving Brazil on the central bank's terms. The Binance Brazil license application, filed on Oct. 23 through a newly created local company called BBrasil, asks for authorization as a virtual asset service provider ahead of a Friday, Oct. 30 deadline.

What happened

Brazil requires existing crypto firms to submit authorization requests by Oct. 30 to keep operating under transitional arrangements, and filing does not amount to approval, Cointelegraph noted. Valor Econômico reported that the request follows central bank Resolutions 519, 520 and 521, which require segregated assets, individual client accounts and custody at an entity the regulator recognizes.

Users are already seeing the effects. From Oct. 27, Binance restricted eight services in Brazil, including Loans, Margin, Binance Pool and Launchpool, and it is removing 22 tokens such as USDe, USTC, ZIL and STORJ from its local offering, The Chain Observer reported. Valor said margin accounts and derivatives trading, which need approval from securities regulator CVM, were discontinued.

The group's existing brokerage, Binance Brasil Corretora, formerly Sim;paul and bought in 2021, will keep handling real-denominated payment accounts and the Pix integration, while BBrasil provides the permitted crypto services.

Why it matters

Brazil is one of Latin America's biggest crypto markets, and the filing comes days after an election that rattled local assets, as we covered in the Lula reelection selloff. The Binance Brazil license process also shows how localization now shapes global exchanges: the company is building separate structures country by country, much as its U.S. arm has done while seeking a $1 billion valuation.

"We support a regulated market that considers the characteristics of virtual assets," said Thiago Sarandy, Binance's general manager in Brazil, adding that he hopes dialogue with the central bank will let it restore discontinued products. Binance submitted a CertiK certification covering almost 900 items to the central bank on Sept. 1, which is still under review, Valor said. Binance says it has more than 330 million users worldwide and that it handled $34 trillion of trading in 2025.

Timing matters for everyone in the market, not just Binance. The central bank wants existing providers to file formal requests during the transition, and regulated banks face limits on working with crypto firms that are neither licensed nor in the queue, The Chain Observer noted. Binance has used a similar localization playbook elsewhere, pursuing a supervised return to the Philippines through a local partner and a regulatory sandbox. The restricted Brazilian services also include Cloud Mining, Megadrop, HODLer Airdrops and Alpha 2.0, though existing positions in some products can generally be reduced or closed.

What's next

Eligible accounts move to the new structure by Oct. 29, and from Nov. 1 international crypto transfers will carry new information requirements, alongside a risk-profile assessment for users, The Chain Observer said. No date has been given for a decision on the Binance Brazil license. Valor's report on the central bank filing has the details.