Brazil’s Crypto Licensing Deadline Draws Just 40 Firms
By Damilola Esebame
AI summary of the source article
Brazil’s Central Bank received between 63 and 68 crypto licensing applications by its October 30 deadline. Companies that missed the cutoff must wind down operations within 30 days, while banks face restrictions transacting with unauthorized firms starting November 6.
Why it matters
The November 6 enforcement date "gives the current applicant pool a structural advantage that latecomers cannot quickly replicate."
Key facts
- Brazil's Central Bank received 63 to 68 crypto licensing applications by October 30, requiring capital of R$10.8M to R$37.2M.
- Banks and payment institutions are broadly barred from transacting with unauthorized crypto providers starting November 6.
- Platforms including Lemon, Coinext, NovaDAX, and Digitra.com exited or reduced Brazilian operations, while Binance filed via local entity BBrasil.
Source excerpt · FinanceFeeds
Brazil’s Central Bank received between 63 and 68 licensing applications from crypto service providers by the October 30 deadline, according to BlockNews and Cainvest tracking data reported by SpazioCrypto , higher than the initial Livecoins estimate of roughly 40 but still well short of the 150 to 200 firms the industry expected to come forward. Companies that missed the cutoff now have 30 days to…