Binance Seeks License in Brazil and Restricts 8 Services Ahead of October 30 Deadline
Key Facts
Binance’s Brazilian subsidiary, known as BBrasil, applied to the Central Bank of Brazil for a virtual asset service provider license on October 23, 2026. The application came before the October 30 deadline for license applications filed during the transitional period. The company said filing on time allows it to continue services such as trading crypto assets and stablecoins, payments and investments while the application is under review. But it said filing does not guarantee regulatory approval. The move puts the platform’s operations in Brazil under central bank review, while changes affecting products available to users have already begun.
As part of compliance with the new rules, Binance said it would stop opening new positions in 8 products and services in Brazil from October 27, 2026. The list includes loans, Binance Pool, cloud mining, margin trading, Launchpad, Megadrop, token-holder distributions and Alpha 2.0. The company said users would be able to close existing positions and transfer any remaining balances to their spot trading accounts. It also said trading in the affected tokens would continue until October 27, and that balances would remain in users’ accounts after that date. Users can withdraw those balances or reinvest them, according to the platform’s notice.
Alongside the license application and restrictions, Binance announced that users’ individual payment accounts in Brazil would be transferred to Binance Brasil Corretora de Câmbio e Valores Mobiliários by October 29, 2026. It said BBrasil would provide permitted virtual asset services, separating the local payment account from services linked to crypto assets. The company said there would be no account-opening fee for the new individual account. The local entity was formerly known as Sim;paul and became Binance Brasil Corretora after approval of the acquisition was published on December 31, 2024. Binance said the institution would be responsible for providing users with individual payment accounts.
The regulations cited by the central bank cover customer protection and transparency in dealing with customers, as well as combating money laundering and terrorist financing. They also address governance, security, internal controls and the provision of information. Under a specific provision concerning self-custody wallets, the central bank said transfers to or from these wallets require a special notification to the Financial Activities Control Council when they reach the equivalent of 10 thousand U.S. dollars or more. The rules also set a date for certain provisions concerning data transmission to take effect. They form part of a framework that expands regulatory obligations for virtual asset service providers.
For international crypto transfers, including those linked to payments, Binance said they would remain available with new procedures and limits from November 1, 2026. Anyone sending or receiving crypto assets from individuals or companies abroad will have to state the purpose of the transaction and confirm the other party’s details. The company said this information would be submitted monthly to the Central Bank of Brazil. A withdrawal will not be sent until the required information is complete, while a deposit will remain pending until the same step is completed. These conditions tie the continuation of international transfers to the provision of additional details about the transaction and the parties involved.
Binance says it cannot offer derivatives services, including futures, to residents of Brazil, citing Law No. 6.385/1976 and interpretations by regulatory authorities. The central bank said the new rules take effect on October 1, 2026. Specific provisions concerning data transmission take effect on January 1, 2027. During this period, BBrasil’s application does not guarantee the company will receive a license, despite its statement that it will continue providing services during the review under transitional arrangements. Central bank approval remains the next regulatory step that will determine the company’s status after the review ends.