Binance announced that it will delist 22 cryptocurrencies for Brazilian customers and implement additional restrictions on several products and services in the country. The changes are set to take effect on October 27 and will only impact users residing in Brazil.
Limited trading for 22 tokens
The exchange will halt trading for tokens such as Verge (XVG), Ethena USDe (USDE), TerraClassicUSD (USTC), Decred (DCR), Dusk (DUSK), PIVX (PIVX), MANTRA, Harmony (ONE), Ravencoin (RVN), Zilliqa (ZIL), and Secret (SCRT). Additional tokens subject to delisting include BB, GMT, TFUEL, ONT, ACX, HIT, PYR, VANRY, VIC, ICX, and STORJ.
Binance clarified that these trading suspensions only pertain to Brazilian residents, while Binance’s global customers remain unaffected by the changes.
Until October 27, Brazilian users will be able to trade the delisted tokens as usual. After the cutoff date, user balances in these cryptocurrencies will remain on their accounts, allowing withdrawals and reinvesting without interruption.
Binance will halt trading for 22 digital assets for Brazilian residents from October 27. These actions will not affect users in other regions, and customers in Brazil will retain the ability to withdraw or reinvest in these tokens after the effective date.
Product and service restrictions
Alongside token delistings, Binance will also restrict access to eight of its financial products and services in Brazil. The affected services include Binance Loans, Binance Pool, Cloud Mining, margin trading, Launchpool, Megadrop, HODLer Airdrops, and Alpha 2.0. These restrictions will also come into effect on October 27.
Brazilian clients will no longer be able to open new positions in these services. Existing loan products will be switched to a repayment-only mode, enabling users to settle their outstanding debts as part of the transition.
Migrating users and enhanced compliance
Starting October 29, Binance will begin migrating its Brazilian user base to locally established entities within the Binance group. This step is part of broader efforts to localize and streamline operations in line with regulatory requirements.
Recently, Binance introduced extra compliance procedures for Brazilian clients using international crypto transfers. Effective November 1, users will be required to provide details about the purpose of their transfers and their counterparties. Without this information, outgoing cryptocurrency withdrawals will not be processed.
Incoming international transfers may also be delayed until recipients complete necessary verification steps, signaling an increased focus on regulatory alignment in the region.
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