Brazil’s Crypto Deadline Sets Up Nov. 6 Banking Limits

Brazilian virtual-asset service providers that applied for authorization by Oct. 30 may continue their existing services while the Central Bank reviews their applications. They cannot add a new service category during the review period.

The deadline covers companies that provided virtual-asset services when Resolution 520 took effect on Feb. 2, 2026. Normative Instruction 704 gave those providers 270 days to submit applications during the first phase of Brazil’s licensing process.

Providers that miss the deadline must stop operating within 30 days. VASP Tracker calculates Nov. 29 as the likely cutoff, although the regulation does not state that date directly.

A separate restriction introduced by Resolution 589 takes effect Nov. 6. Banks, payment institutions and other entities authorized by the Central Bank will be prohibited from conducting or enabling crypto operations with unauthorized providers, except through arrangements permitted under Resolution 520.

The restriction covers opening and maintaining payment accounts, payment transactions, foreign exchange, intermediation and custody services when they support the restricted operations. The updated rules remove an earlier reference to providers undergoing authorization, leaving payment access unresolved for exchanges that have filed applications but have not received approval.

The Central Bank’s dataset dated Sept. 30 listed seven open crypto licensing processes and one process without a specified segment. It listed no authorized crypto providers. Because the dataset is submitted after the relevant period, an exchange’s absence from the September records does not establish that it missed the Oct. 30 deadline or failed to file an application later.

Binance, Bybit, Mercado Bitcoin and OKX have reported submitting authorization applications. Customers can check whether their exchange has filed an application or announced plans to leave Brazil. They can also verify the platform’s Brazilian legal entity and CNPJ in Central Bank and VASP Tracker records.

Withdrawal and asset-migration deadlines differ by company because the rules do not set a single procedure for returning customer assets when a provider exits the market. NovaDAX set Oct. 30 as its deadline for crypto withdrawals, while Bity announced asset migration and conversion for Nov. 27.