The deadline for applying for a license from Brazil’s central bank was October 30. It was originally estimated that 150 to 200 crypto companies would apply, but in the end only around 40 submitted applications, including Binance and Itaú Bank.
The more than 100 that didn’t apply have to shut down and leave within a month. Starting November 6, banks and payment companies will also be prohibited from processing transactions for unlicensed platforms.
This amounts to a shake-up of Brazil’s market: smaller platforms will either exit or go underground, leaving users and funds to crowd into these few dozen licensed operators.
Brazil is one of the largest crypto markets in Latin America, and this shake-up is a real boost for leading exchanges.
BNB traded between 702 and 717 today and is now at 714u. I’m leaning bullish. If it retests around 705 and holds, you could consider getting in; if it breaks above 717, then look toward 740. #巴西虚拟资产牌照约40家机构申请 $BNB
The more than 100 that didn’t apply have to shut down and leave within a month. Starting November 6, banks and payment companies will also be prohibited from processing transactions for unlicensed platforms.
This amounts to a shake-up of Brazil’s market: smaller platforms will either exit or go underground, leaving users and funds to crowd into these few dozen licensed operators.
Brazil is one of the largest crypto markets in Latin America, and this shake-up is a real boost for leading exchanges.
BNB traded between 702 and 717 today and is now at 714u. I’m leaning bullish. If it retests around 705 and holds, you could consider getting in; if it breaks above 717, then look toward 740. #巴西虚拟资产牌照约40家机构申请 $BNB
