Only about 40 crypto firms in Brazil submitted license applications before
Original headline巴西仅约 40 家加密企业在许可申请截止前提交申请
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Brazil's central bank closed its virtual asset service provider (VASP) licensing application window on October 30, with only about 40 crypto firms submitting applications—far below the expected 150 to 200 participants. Major players including Binance and Itaú were among the applicants. Firms that applied may continue operating while the central bank reviews their submissions, while non-applicants must wind down operations within one month of the deadline. The central bank has up to two years to respond to new applications. The low application count could signal consolidation in Brazil's crypto market, and attention will turn to how many firms exit and whether the regulator's review timeline affects market participation.
Muhabbit's AI wrote this summary in its own words from TechFlow's report and translated it from Chinese. It can get details wrong, so check the source.
Named in this story
Central Bank of Brazil, Binance, Itaú