Coinbase applies for Brazil crypto license ahead of central bank deadline
Coinbase has applied to become a licensed virtual asset service provider in Brazil ahead of the central bank's Oct. 30 deadline, aiming to keep its existing operations running during the review.
Coinbase has submitted an application to Brazil's central bank to be licensed as a virtual asset service provider, meeting an Oct. 30 deadline set for existing crypto firms, according to reports cited by Unchained. A company spokesperson told a reporter that Coinbase does not expect the review process to require suspending its current services for Brazilian customers.[2][3]
Under the regulatory framework adopted by Banco Central do Brasil in November 2025, companies already active in the market must request authorization by Oct. 30 or cease operations within 30 days. Providers that file on time may continue offering services throughout the two-phase review process, which initially verifies whether a firm was operating before the rules took effect in February.[2]
The filing positions Coinbase alongside competitors navigating the country's updated framework. Binance applied on Oct. 23 while curbing new loans and margin trading in Brazil, and already-licensed Itaú Unibanco submitted its notice on Oct. 27. However, a September amendment taking effect Nov. 6 bars central-bank-authorized institutions from facilitating crypto operations with unauthorized service providers, omitting an earlier exemption for applicants with pending requests.[2]
In a statement published in Brazil, Coinbase outlined plans to roll out its "Everything Exchange" model, which encompasses foreign exchange operations and payment services such as issuing e-money. Brazil's framework allows crypto intermediaries to offer FX and e-money services only under those activities' specific regulatory regimes and central bank authorizations.[1][2]
Key facts
- Coinbase applied on Wednesday to be licensed as a virtual asset service provider (VASP) with Brazil's central bank.
- Brazil's transition deadline for existing crypto service providers to request central bank authorization is Oct. 30.
- Firms already operating when rules took effect in February that miss the Oct. 30 deadline must halt operations within 30 days.
- Coinbase stated it does not expect the licensing review to require a suspension of its existing services in Brazil.
- Under a September amendment effective Nov. 6, central-bank-authorized institutions cannot facilitate crypto transactions with unauthorized providers, without an exemption for pending applicants.
- Binance applied for a Brazilian VASP license on Oct. 23, and Itaú Unibanco filed its separate notice on Oct. 27.
- Coinbase's Brazilian strategy includes foreign exchange operations and issuing e-money as part of an "Everything Exchange" concept.
Sources · 3 sources
- LS
Laura Shin@laurashinPost on X ·
Coinbase's Brazil plan includes issuing e-money, according to reports. Brazil's crypto rules put that, and FX, under their own rulebooks and central bank authorization rules. https://t.co/642KnkTGQi
Open source - UN
UnchainedArticle ·
Coinbase Files to Keep Operating Under Brazil’s New Crypto Rules Coinbase is now one of the crypto firms waiting on a ruling from Brazil’s central bank, after it applied on Wednesday to be licensed as a virtual asset service provider (VASP) , according to reports. That keeps the U.S. exchange inside the transition period for providers already operating in the country, which closes to new filings on Oct. 30 . Brazilian reports said the company announced the filing on Thursday. Under the framework the Banco Central do Brasil adopted in November 2025, companies already offering crypto services in the country must request authorization by Oct. 30 . Firms that file on time may keep providing those services until their authorization process concludes, though they can’t take on another category of crypto license while the request is pending. Firms that miss the date must stop within 30 days. The review runs in two phases , and the first checks, among other things, that a firm was already operating when the rules took effect in February. A Coinbase spokesperson said in remarks to a reporter , according to reports, that “we do not expect the application review to require a suspension of our existing services.” Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . The Nov. 6 Rule A second date follows the filing deadline. Starting Nov. 6 , banks, payment institutions and other institutions the central bank authorizes may not carry out or facilitate crypto operations with service providers that are not authorized to operate in Brazil, under a September amendment to the rules. The earlier version of that provision also exempted providers whose authorization was still being processed. The amended text does not include that exemption. Coinbase’s request follows Binance , which applied on Oct. 23 and has cut new loans and margin trading for Brazilian users. Banks already licensed by the central bank use a separate notice process; Itaú Unibanco filed its notice on Oct. 27. FX and E-Money Brazil’s VASP rules let a crypto intermediary also issue e-money and offer crypto services in the foreign exchange market, but only under those activities’ own regulations, including central bank authorization rules. That is where Coinbase is headed: a company statement published in Brazil describes its goal as bringing the “Everything Exchange” concept to the country, with a strategy covering FX operations and payment services, e-money issuance among them. Related Listen: New US Rules Could Force Coinbase to Delist Tether The post Coinbase Files to Keep Operating Under Brazil’s New Crypto Rules appeared first on Unchained .
Open source - CT
Coin TelegraphArticle ·
Coinbase seeks Brazil crypto license, expects no service disruption Coinbase has applied for authorization ahead of Brazil’s Oct. 30 deadline and says it expects to maintain existing services while regulators review its application.
Open source