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

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 deadline of October 30. Coinbase stated that existing services do not need to be suspended while regulators review the application. Under relevant Brazilian regulations, existing service providers that file 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 activities require separate regulatory authorization.