According to CoinMeta, Coinbase submitted an application for a virtual asset service provider ( VASP ) license to the Brazilian Central Bank on October 28th in order to meet the regulatory application deadline of October 30th. A spokesperson for Coinbase stated that it is expected that the application review will not result in a suspension of existing services. Under Brazil's new regulations, existing crypto service providers who submit applications before the deadline can continue to operate during the regulatory review period. Coinbase also plans to expand its Everything Exchange strategy to Brazil; this may happen in the future, but the related business will still need to obtain separate regulatory authorization.