Coinbase Files for Crypto Services License in Brazil; Existing Services Not Expected to Be Interrupted During Review

As reported by TechFlow on October 29, citing Cointelegraph, Coinbase submitted a crypto asset service provider license application to the Central Bank of Brazil on October 28 to meet the local application deadline of October 30. Coinbase said existing services would not need to be suspended while regulators review the application. Under relevant Brazilian regulations, existing service providers that submit applications on time may continue operating during the approval process. Coinbase also plans to expand foreign exchange and payment services in Brazil in the future, but such services require separate regulatory authorization.

Source: TechFlow