The short version
- Binance Brazil closed eight products to new positions on October 27, margin and loans among them, and stopped trading in 22 tokens for Brazilian residents, USDe included.
- Every Brazilian account moves to local Binance companies by October 29, a day before Friday’s central bank license deadline; Binance filed its application on October 23.
- The crew is watching the license decision and the new form for transfers abroad from November 1, capped at $100,000 per transfer.
Binance Brazil is a smaller exchange this week. Since Tuesday, October 27, users who live in Brazil can’t open anything new in eight Binance products, margin and loans among them, and 22 tokens have stopped trading for them.
By Thursday, October 29, every Brazilian account moves to local Binance companies. Friday is the deadline for crypto firms to ask Brazil’s central bank for a license, and Binance filed its request on October 23. So what changes for users, and what is still to come?
Binance Brasil’s own account posted a warning earlier this month that matters more during a migration, when scammers pose as support:
Não existe "grupo de sinais da Binance".
Não existe "suporte via Telegram".
Não existe "pagamento para liberar saldo".
Existe muita gente usando nosso nome pra aplicar golpe. Fique esperto. 👀
What Changes for Binance Brazil Users?
The eight products closed to new positions are Loans, Margin, Binance Pool, Cloud Mining, Launchpool, Megadrop, HODLer Airdrops and Alpha 2.0, Binance said in its Brazil FAQ. Open positions are not force-closed:
- Loans: repay-only from October 27, with no fees or penalties.
- Margin: existing positions can stay open with no end date for now, but no new orders, transfers or extra borrowing.
- Futures: Binance says Brazilian law bars it from offering derivatives to residents. Users who already trade futures can move their positions to a separate international account run by Binance’s Abu Dhabi entity; otherwise they go reduce-only.
The 22 tokens are XVG, USDE, USTC, DCR, DUSK, PIVX, BB, MANTRA, ONE, GMT, TFUEL, ZIL, ONT, RVN, ACX, HIT, PYR, VANRY, VIC, ICX, SCRT and STORJ. The surprise on that list is USDe, Ethena’s synthetic dollar and the fifth-largest stablecoin at $4.5 billion, according to DefiLlama. Balances stay in the account and can be withdrawn. This Binance delisting is Brazil-only; the tokens keep trading everywhere else.
Spot trading stays, and so do the app, the deposit addresses and the trading history. Nobody has to redo identity checks. The coins themselves stay with Nest Clearing and Custody, Binance’s custodian regulated in Abu Dhabi, and only the Brazilian side of the account changes hands.
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Why Is Binance Doing This Now?
Because Brazil’s new crypto regulation treats exchanges like financial firms, with the central bank in charge. Its Resolutions 519, 520 and 521 set the rules, and companies already serving Brazilians must apply for authorization by Friday, October 30, or stop.
Binance applied through BBrasil, its new local crypto company, for an intermediary license: buying, selling and swapping coins for clients. Real balances and Pix payments go to Binance Brasil Corretora, the broker formerly called Sim;paul, which the central bank let Binance buy in December 2024. Filing is not approval: for now the Binance Brazil license is an application, which keeps the exchange in the market while the central bank reviews it.
Margin and loans are the products the new rules squeeze out. Binance Brazil head Thiago Sarandy told Exame he wants a bank partner to bring them back, and that Binance wants “more products than any banking institution.”
Two more changes follow:
- Tax: from October 29, trades through the Brazilian company count as local crypto investments. Monthly sales up to about $6,500 stay tax-free; above that, the whole month’s gain is taxed at 15% to 22.5%, and coin-to-coin swaps count as sales.
- Transfers abroad: from November 1, sending crypto to or from anyone outside Brazil, including your own self-hosted wallet, means stating the purpose and the counterparty, per Binance’s notice. The data goes to the central bank each month, and deposits wait until the form is filled. Transfers with foreign counterparties are capped at $100,000 each for now.
SIDE TRAIL: Ethena Price Turns Green in a Red Market, but USDe Is Still Shrinking
Is BNB Price Reacting?
Not really. BNB trades at about $747 at the time of writing, up 1.3% over 24 hours, pressed right under its 50-day moving average at $749.88. A daily close above that line opens the way to $780.64; support sits at $717.07.
For Binance, Brazil is a license question more than a price one. A rejection would shut Binance out of one of the world’s biggest crypto markets, while approval would put margin and loans back on the table with a bank partner.
TRAIL MAP: How to Send Crypto Without Losing It: Networks, Addresses and Test Transactions
In crypto since 2017, trading stocks for over 20 years. MBA. Follows the economic data and US markets closely.
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