Brazil’s Central Bank concluded its deadline for virtual asset service providers (VASPs) to apply for operating licenses, with only about 40 firms submitting applications out of an estimated 150 to 200 crypto companies. These applicants may continue operations while the central bank reviews their compliance with regulatory rules. Firms that missed the Oct 30 deadline must liquidate their businesses and exit the market within one month. Starting Nov 6, banks will block transactions linked to unlicensed crypto entities, severing their access to fiat currency services. Although future license applications remain possible, the central bank’s review process can take up to two years.