Binance restricts 8 services, delists 22 tokens in Brazil

Binance has restricted eight services and delisted 22 tokens for Brazilian users as it aligns with Central Bank of Brazil resolutions 519, 520 and 521. The changes took effect on October 27 and affect Loans, Binance Pool, Cloud Mining, Margin, Launchpool, Megadrop, HODLer Airdrops and Alpha 2.0.

The affected products involve lending, leverage, mining and token rewards. Binance Loans are now available only for repayments. The company has waived additional fees and penalties, and will return any remaining balance to users’ spot wallets after repayment.

Existing margin positions can remain open, but users cannot place new margin orders, transfer funds to margin accounts or borrow additional assets. Binance has not set a deadline for closing margin positions.

Cloud Mining, Binance Pool, Launchpool, Megadrop, HODLer Airdrops and Alpha 2.0 operate on a reduce-only basis. Users can close existing positions but cannot open new ones.

Binance has removed XVG, USDE, USTC, DCR, DUSK, PIVX, BB, MANTRA, ONE, GMT, TFUEL, ZIL, ONT, RVN, ACX, HIT, PYR, VANRY, VIC, ICX, SCRT and STORJ from its Brazilian trading platform. The delisting applies only to Brazil and does not affect trading in other jurisdictions. Users will keep the assets in their accounts and can withdraw or reinvest them. Tokenized bStocks remain unavailable to Brazilian customers.

By October 29, Brazilian customers are expected to hold individual payment accounts with Binance Brasil Corretora de Câmbio e Valores Mobiliários S.A., the brokerage formerly known as Sim;paul. Binance acquired the company, which received central bank authorization in December 2024. Virtual-asset services will be provided through BBrasil Sociedade Prestadora de Serviços de Ativos Virtuais Ltda.

Crypto custody will remain with Nest Clearing and Custody Ltd., an Abu Dhabi company authorized by the Financial Services Regulatory Authority under registration number 000007529. Binance’s notice states that customers will not need to complete identity verification again, and that their deposit addresses and trading histories will remain unchanged. Customers who do not migrate must withdraw their funds and close their accounts by October 27.

From October 29, crypto held through the Brazilian entities will be subject to Brazil’s domestic tax rules. Monthly crypto sales of up to 35,000 Brazilian reais are exempt from capital-gains tax. Sales above that amount are subject to rates ranging from 15% to 22.5% on monthly gains. The threshold is based on total sales, not profit, and crypto-to-crypto exchanges count as sales.

Customers must complete a four-question risk-profile survey required by Resolution 520. Binance has given users 30 days to complete it before restricting new trades.

Futures are handled separately because Brazilian Law 6.385/1976 prohibits Binance from offering futures to Brazilian residents. Users with existing Abu Dhabi futures accounts can continue managing their positions. Accounts with open futures positions will operate on a reduce-only basis.

From November 1, international crypto transfers will require users to state the purpose of each transaction and confirm sender and recipient details. Binance will report the information to Brazil’s central bank each month.