Brazilian Crypto Exchanges Must Submit License Applications by Friday

Brazilian crypto exchanges must submit their license applications by Friday to continue operating during the regulatory review period, which can last up to two years. Companies that fail to apply on time will need to cease operations within 30 days starting from Friday. Beginning November 6, banks and payment institutions will restrict crypto transactions with unauthorized service providers. The Central Bank of Brazil (Banco Central do Brasil, BCB) plans to launch a crypto regulatory framework in November 2025, requiring service providers to verify the sources and destinations of crypto transfers, and setting a limit of $100,000 on international crypto transfers not authorized to operate in the Brazilian foreign exchange market. Fabio Cendão, founding partner of Brazilian law firm FCM Law, stated that the application is just the starting point of the process, and compliance will also require meeting high capital requirements, technical certifications, custody audits, and anti-money laundering controls. Depending on the type of service, the minimum capital requirement ranges from 10.8 million to 37.2 million Brazilian reais, and the associated costs may make compliance difficult for small exchanges.

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