Coinbase has submitted a crypto license application to Brazil's central bank, stating that existing services are expected to remain unaffected.

October 29 — Coinbase submitted an application for virtual asset service provider authorization to the Central Bank of Brazil on Wednesday. A spokesperson said the application review is not expected to require suspension of existing services. Under the new rules, existing service providers that submit applications before the deadline may continue operating during the review period, while those that fail to apply by the deadline must cease operations within 30 days after the deadline.

Coinbase also reiterated plans to bring its Everything Exchange strategy to Brazil, potentially expanding into businesses such as foreign exchange and payments, but separate regulatory authorization would be required.