Binance applied to Brazil's central bank on Oct. 23 through local entity BBrasil to operate as a virtual asset service provider (SPSAV), ahead of the Oct. 30 deadline for existing providers to file to keep operating transitionally, Cointelegraph and WuBlockchain report.

Binance applied to Brazil's central bank on Oct. 23 through local entity BBrasil to operate as a virtual asset service provider (SPSAV), ahead of the Oct. 30 deadline for existing providers to file to keep operating transitionally, Cointelegraph and WuBlockchain report.

Filing is not approval. Binance said the filing would preserve access to stablecoin trading, payments and investments, per Cointelegraph.

To comply, Binance began restricting eight services for Brazilian users on Oct. 27, including crypto loans, margin trading, mining pools and cloud mining, with existing positions generally limited to reductions or closures and no new positions, according to WuBlockchain.

It also delisted 22 tokens in Brazil, including USDE, USTC, DCR and XVG, and plans to complete migration of Brazilian users to its local payment-account structure by Oct. 29, according to the same report.

BNB itself was quoted around $737.8 on Binance spot, down about 0.17% in 24h, according to exchange quotes observed Oct. 27.