Odaily Planet Daily report: Brazilian crypto exchanges must submit their license applications by Friday to continue operating during the regulatory review period, which may last up to two years. Companies that fail to apply on time must cease providing services within 30 days starting Friday. Starting November 6, banks and payment institutions will also be restricted from engaging in crypto transactions with unauthorized service providers.
The Central Bank of Brazil (BCB) launched its cryptocurrency regulatory framework in November 2025, requiring service providers to verify the origin and destination of cryptocurrency transfers, including those involving self-custody wallets. The rules also impose a $100,000 cap on certain international cryptocurrency transfers where the counterparty is not authorized to operate in Brazil’s foreign exchange market. Exchanges still have questions regarding wallet identification, interpretation of limits, and transaction reporting thresholds.
Fabio Cendão, founding partner at Brazilian law firm FCM Law, stated that the application is merely the first step in the process, and compliance involves substantial capital requirements, technical certifications, custody audits, and anti-money laundering controls. Depending on the services offered, the minimum capital requirement ranges from BRL 10.8 million to BRL 37.2 million; Cendão noted that these costs may make it difficult for smaller exchanges to comply. (Cointelegraph)