Coinbase Applies for Crypto Service Provider License in Brazil

October 29 — According to Cointelegraph, Coinbase has submitted an application for a license to operate as a crypto service provider in Brazil ahead of the country's October 30 licensing application deadline. The move is aimed at ensuring the continuity of Coinbase's existing operations in Brazil while responding to new requirements set by the Central Bank of Brazil regarding governance, safeguarding of customer assets and compliance.

Under Brazilian rules, existing crypto service providers must submit license applications by the end of October in order to continue operating under transitional arrangements. Existing providers that file before the deadline may continue to conduct business while their applications are under review.