Binance, through its Brazilian entity BBrasil, submitted an application for a Virtual Asset Service Provider (SPSAV) license to the Central Bank of Brazil on October 23, aiming to complete compliance before the regulatory deadline of October 30. According to Blocknews, to comply with local regulations, Binance began restricting 8 services for Brazilian users on October 27, including crypto loans, margin trading, mining pools, and cloud mining. It also delisted 22 tokens such as USDE, USTC, DCR, and XVG. Existing positions in affected products are generally limited to reduction or closure, with no new positions allowed to be opened. Binance also plans to complete the migration of Brazilian users to its local payment account structure by October 29.