Brazil Crypto Exchanges Face Oct. 30 Authorization Filing Deadline

Existing crypto exchanges operating in Brazil have until Friday, Oct. 30, to apply for authorization from the country’s central bank. Operators that miss the cutoff face a possible service halt, while applicants must meet capital and compliance requirements under the new framework.

Exchanges that file on time can continue operating while their applications are reviewed. Fabio Cendão, founding partner at Brazilian law firm FCM Law, said the process may take up to two years. New entrants must receive authorization before launching regulated services. Lawyer Marcelo de Castro Cunha Filho said exchanges that miss the deadline must stop providing services within 30 days after Oct. 30.

Introduced in November 2025, Brazil’s framework places exchanges, custodians and other virtual asset service providers under Banco Central do Brasil (BCB) oversight. The Oct. 30 filing deadline applies to exchanges already operating in the country.

Minimum capital requirements range from 10.8 million Brazilian reais, about $2 million, to 37.2 million reais, depending on the services a provider offers. Providers also face technical certification requirements, custody audits and anti-money laundering controls. Cendão warned that the combined costs could make compliance unworkable for smaller exchanges and contribute to greater market concentration. “Filing is the easy part,” he said.

The rules require providers to check the origin and destination of crypto transfers, including transfers involving self-custody wallets. Certain cross-border crypto transfers are capped at $100,000 if the counterparty lacks authorization in Brazil’s foreign exchange market.

Thiago Sarandy, Binance Brazil general manager, said exchanges still need guidance on identifying self-custody wallets, interpreting the $100,000 operational limit and setting reporting thresholds. “The lack of clarity creates a risky situation,” he said. Sarandy warned that unclear requirements could lead to fragmented or inconsistent reports, making it harder for regulators to oversee activity. He also said industry association ABCripto had submitted questions to the BCB and had not received answers.

OKX, Binance and Coinbase have filed applications. Ahead of the cutoff, Binance scheduled service and asset limits for Brazilian customers, covering eight services and 22 crypto assets, with an Oct. 27 start date.

Starting Nov. 6, banks and payment institutions will face restrictions on crypto transactions with providers that lack authorization.