Binance Applies for Brazilian Crypto License, Will Delist 22 Local Crypto Assets

Odaily: Cryptocurrency exchange Binance has submitted a crypto service provider license application to the Central Bank of Brazil through its local entity BBrasil in order to maintain local operations before the regulatory deadline. The application was submitted on October 23. Brazil requires existing crypto service providers to apply for authorization by October 30. An application does not mean regulatory approval has been granted.

Binance announced that starting Tuesday it will adjust services for Brazilian users, restricting services such as crypto lending and margin trading, and delisting 22 local crypto assets. Thiago Sarandy, General Manager of Binance Brazil, said the company hopes to maintain ongoing dialogue with the Central Bank of Brazil so that it can in the future restore some products that were suspended in order to comply with current regulations. (Cointelegraph)