Only about 40 crypto companies in Brazil submitted applications ahead of the licensing deadline.

on November 2, according to Livecoins citing local reports, the deadline set by the Central Bank of Brazil for applications for Virtual Asset Service Provider (VASP) licenses had passed on October 30. While 150 to 200 companies were expected to participate, only about 40 actually submitted applications, including major institutions such as Binance and Itaú. Companies that have applied may continue operations during the central bank's review period. Those that did not apply must orderly exit the market within one month from the deadline. The central bank's response period for new applications can take up to two years.