Binance files for Brazil crypto license and trims local services
The gist
Binance applied for a Brazil crypto license on Oct 23 and restricted eight services for Brazilian users.
The exchange is reshaping its business ahead of stricter central bank oversight.
How it unfolded
- Apr 27, 2020Binance launched its mining pool, initially offering Bitcoin mining with fees waived until the end of May.
- 2022Binance agreed to acquire brokerage Sim;paul; Brazil's central bank approved the acquisition in December 2024.
- 2023Binance pulled out of the Russian market after Moscow's full-scale invasion of Ukraine and the Western sanctions that followed.