Binance says it has applied to Brazil’s central bank for authorization as a virtual asset service provider. The exchange submitted the application on October 23 through its local entity, BBrasil, according to a statement shared with Cointelegraph, which reported the filing on October 27.
The central bank’s filing rules set October 30 as the deadline for first-phase applications under the transition framework. Binance’s submission is a request for authorization, not confirmation that the regulator has granted the exchange a crypto licence.
The application accompanies a restructuring of Binance’s Brazilian operations. Its local notice says customers will receive individual payment accounts through Binance Brasil Corretora, formerly Sim;paul, by October 29. BBrasil is the separate group entity designated to provide permitted virtual-asset services.
From October 27, Binance is restricting eight products for Brazilian users, including lending, margin trading, cloud mining and Launchpool. It is also removing trading access to 22 tokens in the country. These are local restrictions, rather than a global delisting or a complete withdrawal from Brazil.
Existing positions are subject to different arrangements. Loans move into repayment-only mode, while existing margin positions may remain open without new orders, additional borrowing or collateral transfers. Binance says it has not set a mandatory closing date for those margin positions; affected token balances can still be withdrawn.
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