Binance to Restrict 8 Services and Delist 22 Tokens in Brazil to Comply With New Regulations

Binance will restrict Brazilian users’ access to eight services, including Binance Loans, Binance Pool, Cloud Mining, margin trading, Launchpool, Megadrop, HODLer Airdrops, and Alpha 2.0, effective October 27 to comply with new crypto asset regulations issued by Brazil’s central bank. The exchange will also stop offering trading services for 22 tokens to Brazilian residents, including XVG, USDE, USTC, DCR, DUSK, PIVX, BB, and MANTRA. Existing eligible lending and margin positions may be maintained, but no new positions may be opened.

In addition, Binance will migrate eligible Brazilian users to a local entity within its group by October 29 and adjust its fiat payment, asset trading, and regulatory reporting arrangements. — link