Coinbase applies for crypto services license in Brazil, says existing services need not be suspended

Odaily reports: Cryptocurrency exchange Coinbase has submitted an application to the Central Bank of Brazil for a crypto asset service provider operating license, filing ahead of the country's October 30 application deadline. Coinbase stated that it does not expect to suspend existing services while regulators review the application, and that the filing is intended to meet Brazil's new regulatory requirements and maintain local business operations.Brazil's new rules cover governance, client asset protection, and compliance requirements. Coinbase also reiterated plans to advance its "Everything Exchange" strategy in Brazil, potentially expanding beyond crypto services into foreign exchange and payments in the future, which would require separate regulatory approval. (Cointelegraph)