Brazilian Crypto Exchanges Narrow to Four Amid Central Bank Approval Process

As Brazil's central bank regulation on virtual assets approaches its one-month deadline, reports indicate that only four cryptocurrency exchanges remain under active approval processes. Bitcoin.com News cited local sources stating five businesses have submitted applications for Virtual Asset Service Provider (VASP) licenses, with one having been rejected. The grace period for existing operators to apply for approval ends October 30, after which financial institutions will be restricted from conducting certain crypto transactions with unapproved or non-applying service providers.