Coinbase has applied for a cryptocurrency service license in Brazil, and it is expected that existing services will not be interrupted during the review period

According to Cointelegraph, Coinbase has submitted an application for a cryptocurrency service provider license to the Central Bank of Brazil to meet the local application deadline of October 30.

Coinbase stated that it does not expect existing services to be suspended during the regulatory review of the application. According to Brazilian regulations, existing service providers that submit applications on time can continue to operate during the approval period. Coinbase also plans to expand its foreign exchange and payment services in Brazil in the future, but these services will require separate regulatory authorization.