Banco Central do Brasil introduced a comprehensive regulatory framework for the country’s digital asset market, setting out the licensing process for service providers, operational requirements, and equating certain crypto transactions with foreign exchange operations.
Banco Central do Brasil (BCB) established operational standards and authorization procedures for digital asset service providers operating in the country. A new type of organization was introduced — Sociedades Prestadoras de Serviços de Ativos Virtuais (SPSAV), i.e., companies providing virtual asset services. These are divided into three categories: intermediaries, custodians, and digital asset brokers.
The regulator requires SPSAVs to comply with rules similar to those applied to financial institutions, including:
- protection of client interests;
- prevention of money laundering and terrorist financing;
- ensuring transparency and a reliable internal control system.
Cybersecurity and disclosure standards were also set to increase trust in digital asset operations and ensure their integration into the national financial system.
Some digital asset operations are now treated as foreign exchange transactions. These include international transfers and crypto payments, wallet-to-wallet transfers, and exchanges of digital assets pegged to fiat currency (such as stablecoins).
For transactions involving unauthorized counterparties, a limit of $100,000 per operation was imposed. At the same time, the use of cash is prohibited, so all settlements must be conducted electronically.
Moreover, digital assets can be used in external credit operations and direct foreign investments, aiming to boost the efficiency and transparency of such transactions.
The new rules will come into effect on February 2, 2026. Starting May 4, 2026, market participants will be required to report all international operations and capital movements involving digital assets to Banco Central do Brasil. Companies already operating in the crypto market must obtain licenses and align their activities with the new requirements.
According to Banco Central do Brasil, the new regulatory framework aims to create a safe, sustainable, and competitive digital asset market. Notably, Brazil ranked fifth in the Chainalysis 2025 Global Cryptocurrency Adoption Index.
