Coinbase applies for Brazilian crypto service license, with existing services expected to remain uninterrupted during the review period.

on October 29, according to Cointelegraph, Coinbase submitted an application for a crypto asset service provider license to the Central Bank of Brazil on October 28 to meet the local application deadline of October 30. Coinbase stated that existing services will not need to be suspended during the regulatory review of the application. Under relevant Brazilian regulations, existing service providers that submit applications on time may continue operations during the approval period. Coinbase also plans to expand its foreign exchange and payment businesses in Brazil in the future, but such businesses require separate regulatory authorization.