8 products, 22 tokens cut for Brazilians by Binance before Oct 30 deadline

Binance stated that it submitted an application to Brazil's central bank for permission to continue offering cryptocurrency services within the nation. This request was made on Friday, Oct. 23, under the name BBrasil Sociedade Prestadora de Serviços de Ativos Virtuais Ltda., which is the group's entity operating in Brazil. The application is currently awaiting a decision, and Unchained has not found any public confirmation of the submission from the Banco Central do Brasil (BCB).

Thiago Sarandy, who serves as Binance's general manager in Brazil, communicated in a statement that the exchange intends to reinstate the products it removed for compliance purposes for Brazilian users in the near future. He noted that the goal is to grant them the same opportunities available globally and that they are relying on ongoing discussions with the BCB to achieve this.

According to a support FAQ published by Binance on Oct. 8, Brazilian users were prohibited from opening new positions in eight different products starting on Oct. 27. These products include Loans, Binance Pool, Cloud Mining, Margin, Launchpool, Megadrop, HODLer Airdrops, and Alpha 2.0. Users are only permitted to close positions they already possess. Concerning outstanding loans, repayment is now possible without incurring any penalties or fees, while existing margin positions may remain active, though no new ones can be opened. Furthermore, Binance removed twenty-two tokens from availability for Brazilian users, listing USDE, USTC, MANTRA, GMT, and STORJ among them. The FAQ specified that user balances remain in their accounts and can be either withdrawn or reinvested.

It is worth noting that two of the eight product restrictions are not exclusive to Brazil. Binance had previously announced on Oct. 13 that it would cease operations for Binance Pool and Cloud Mining for all users on Nov. 10, as reported by Unchained; Brazilian users experienced this loss two weeks earlier. The FAQ further detailed that by Oct. 29, all users in Brazil would transition to an individual payment account managed by Binance Brasil Corretora de Câmbio e Valores Mobiliários S.A., shifting crypto service functions to the BBrasil entity.

Regarding the deadline, October 30 represents the final day for cryptocurrency companies already operating in Brazil to submit their applications, as stipulated under Resolution BCB 520 and Normative Instruction 704. Firms that meet this requirement can maintain their operations while their requests are being processed. Resolution 520, alongside its related rules 519 and 521, is dated Nov. 10, 2025. Additionally, Resolution BCB 589 mandates that starting Nov. 6, financial institutions, payment institutions, and other firms authorized by the BCB are forbidden from engaging in crypto transactions where the counterparty is an unauthorized service provider. Binance's operational status is under review in markets beyond Brazil as well, with European regulators expressing concerns regarding its use of the reverse solicitation exemption within the EU.