According to CoinMeta, and as reported by blocknews, Binance submitted an application for a virtual asset service provider license ( spsav ) to the Brazilian Central Bank through its local entity bbrasil on October 23, completing the registration before the regulatory deadline of October 30. To comply with local regulatory requirements, Binance has restricted Brazilian users from using eight services since October 27, including crypto lending, leveraged trading, mining pools, and cloud mining, and has also removed 22 types of tokens such as USDE, ustc, dcr, and xvg. Existing positions in the restricted products can only be reduced or closed, and no new ones can be opened. Binance plans to complete the migration of local user accounts by October 29.