Binance seeks central bank approval to continue crypto services in Brazil: Report

Brazil's central bank resolution sets out rules for the establishment and operation of virtual asset service providers, including firms involved in crypto trading, custody, portfolio management and staking. Binance has applied for authorization to provide crypto services in Brazil in an effort to maintain its presence in one of Latin America’s largest crypto markets before a regulatory deadline on Oct. 30, Cointelegraph reported Tuesday. Under Resolution No. 520 issued by Brazil’s central bank last November, existing virtual asset service providers must apply to the Central Bank of Brazil for authorization within 270 days of the rules taking effect on Feb.