Binance has officially filed for a virtual asset service provider license in Brazil. The application was submitted on October 23 through the local entity BBrasil Sociedade Prestadora de Serviços de Ativos Virtuais Ltda, ahead of the October 30 regulatory deadline.
To support the application, the exchange provided a technical certification from CertiK covering nearly 900 compliance items. Binance previously acquired the firm Sim;paul, which received central bank authorization in December 2024, to establish its local presence.
Concurrent with the filing, Binance restricted eight products, including margin trading, loans, and cloud mining, and delisted 22 crypto assets for Brazilian users as of October 27. Existing positions in these services are now limited to closure or reduction.
The exchange is also migrating customer accounts to a local entity, Binance Brasil Corretora, with completion targeted for October 29. This transition precedes the implementation of new reporting requirements for cross-border transfers in Brazil, effective November 1.
