Brazil puts crypto exchanges on hold: deadline is today

Crypto exchanges in Brazil must apply for a permit by Friday, October 30th to remain active. Those who miss the deadline must end their services within thirty days. Large platforms such as Binance and Coinbase have already applied, but smaller crypto companies are at risk of getting into trouble.

The new rules were announced by the Brazilian central bank in November 2025. They apply to crypto exchanges, custodian companies and other crypto service providers.

Companies that submit an application on time may remain active for the time being while the regulator assesses their documents. According to lawyer Fabio Cendão, that process can take up to two years.

Cost is an important challenge. Crypto companies must have a minimum capital of approximately $2 million to $7 million, depending on their services. In addition, stricter requirements apply to security, money laundering checks and the storage of crypto coins.

According to Cendão, these obligations can become too expensive for smaller companies, which ultimately leaves mainly large crypto exchanges.

Large parties also have questions about the new legislation. Binance CEO Thiago Sarandy points to ambiguities surrounding transactions with personal crypto wallets.

From now on, crypto exchanges need to better check where crypto coins come from and are sent to. In addition, there is a limit of $100,000 for certain international crypto transactions.

According to Sarandy, it is not yet sufficiently clear exactly how companies should apply these rules. Industry organisation ABCripto has therefore submitted questions to the central bank, but is still waiting for answers.

As of November 6, banks and payment institutions will also face stricter restrictions on transactions with unauthorized crypto companies.

Brazil is now one of the largest crypto markets in the world. According to Chainalysis, approximately $252.5 billion worth of crypto transactions were processed between July 2025 and June 2026. Binance, OKX and Coinbase are among the companies that have applied for a license. Crypto exchange Bitso, on the other hand, stops providing direct services to private customers in Brazil and collaborates with Mercado Bitcoin for this purpose.