- Brazil’s crypto firms filing by October 30 may keep operating during their review.
- November 6 banking limits cover unauthorized crypto firms, with stated exceptions.
- Users should check filing notices, withdrawal deadlines, and the exchange’s Brazilian legal entity.
Brazil’s October 30 crypto licensing deadline requires existing crypto service providers to submit authorization applications to the Central Bank. Firms that miss the deadline face restrictions on continuing their existing operations, while those that apply on time can continue operating during the authorization process.
A separate banking restriction takes effect November 6, raising an unresolved question over payment access for exchanges awaiting approval and customers holding balances on those platforms.
Brazil’s October 30 Crypto Licensing Deadline
The October deadline applies to firms providing virtual-asset services when Resolution 520 took effect on February 2. They received 270 days to apply, with Normative Instruction 704 stating October 30 as the deadline for the first application phase.
Firms that file on time may continue with existing services until their authorization proceedings conclude, without adding another service category. Those who miss the deadline must stop within 30 days. VASP Tracker calculates November 29 as that cutoff, although the regulation does not explicitly state the date.
Why November 6 Could Determine Banking and Payment Access
The November restriction follows a change introduced by Resolution 589. Banks, payment institutions, and other institutions authorized by the Central Bank cannot conduct or enable crypto operations with unauthorized providers, except through arrangements specifically permitted under Resolution 520. The banking restriction binds regulated institutions rather than exchanges.
The ban extends to opening and maintaining payment accounts, payment transactions, foreign exchange, intermediation, and custody when those services facilitate the restricted operations. However, the updated text removes an earlier reference to providers undergoing authorization.
What Users Need to Check Before Keeping Funds on an Exchange
The Central Bank’s September 30 dataset showed seven open crypto licensing processes and one without a stated segment. It listed no authorized crypto providers, making it important for users to check the latest application status before assuming an exchange has received approval.
According to VASP Tracker, Binance, Bybit, Mercado Bitcoin, and OKX reported filing authorization applications. However, the monthly dataset is submitted after the deadline, meaning an exchange’s absence from the September records does not establish non-compliance or rule out a subsequent application.
Users should check whether their exchange has filed an application or announced an exit, along with any deadlines for withdrawing or migrating assets. They should also verify the platform’s Brazilian legal entity and CNPJ against VASP Tracker’s records and the Central Bank’s published data.
Withdrawal arrangements are particularly important because the rules do not establish a single procedure for returning customer assets when a provider exits the market. NovaDAX has set October 30 as the deadline for crypto withdrawals, while Bity announced asset migration and conversion on November 27.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
