Coinbase Files to Keep Operating Under Brazil’s New Crypto Rules

The removal of the waiting-period exemption is the pivotal detail: it converts pending applications into a hard stop, so Coinbase's Brazilian footprint now hinges on approval timing rather than its own operational choices. The rule's real force is indirect, using banks and payment firms as enforcement levers against unauthorized providers, which raises the cost of non-compliance across the market. The open question is whether other exchanges follow with filings of their own, and how quickly the regulator processes them before the rules take effect.