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Brazil cryptocurrency firms face Central Bank licensing deadline
The deadline for cryptocurrency companies operating in Brazil to apply for authorization as Virtual Asset Service Providers (PSAVs) concluded on October 30. Under the new framework established by the Banco Central do Brasil (BCB), companies must submit applications to continue providing regulated services, such as buying, selling, custody, or intermediation of digital assets.
According to reports, approximately 62 companies have filed for licenses, including major players like Binance, Coinbase, OKX, Bybit, Mercado Bitcoin, and Ripple. Traditional financial institutions such as Itaú, Bradesco, and B3 have also expressed intent to regularize or have already initiated the process. While those who applied on time may continue operating during the review period, which can take up to two years, those who missed the deadline must cease operations within 30 days.
A secondary regulatory milestone occurs on November 6, when banks and payment institutions will face restrictions on conducting crypto transactions with unauthorized providers. This shift is expected to drive market consolidation, as smaller operators may struggle to meet new requirements regarding minimum capital, management structures, and accounting standards.
Entities
Banco Central do Brasil · Binance · Brazil · Coinbase · Itaú Unibanco · Mercado Bitcoin
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 13 SOURCES] The deadline for crypto companies to apply for Central Bank authorization in Brazil was October 30. cryptocompass.com · fintechs.com.br · brasilemfolhas.com.br · www.dgabc.com.br · imprensapublica.com.br · +8 more
- [● 9 SOURCES] Binance has applied for a crypto service provider license in Brazil. fintechs.com.br · brasilemfolhas.com.br · www.dgabc.com.br · imprensapublica.com.br · dev.tnonline.com.br · +4 more
- [● 7 SOURCES] Authorized PSAVs are classified as Type 3 and must meet minimum capital and management requirements. brasilemfolhas.com.br · www.dgabc.com.br · imprensapublica.com.br · dev.tnonline.com.br · www.spacemoney.com.br · +2 more
- [● 2 SOURCES] Companies that miss the deadline must stop providing services within 30 days. cryptocompass.com · coinedition.com
- [○ 1 SOURCE] Approximately 62 companies have filed for authorization as of the deadline. fintechs.com.br
- [○ 1 SOURCE] NoxPay reported moving over US$ 330 million in USDC monthly on the Stellar network. livecoins.com.br
- [○ 1 SOURCE] The authorization process can take up to two years. cryptocompass.com
- [● 2 SOURCES] Banks and payment institutions face restrictions on crypto transactions with unauthorized providers starting November 6. cryptocompass.com · coinedition.com