In the banking system, the State exerts direct and indirect control over the property of citizens:
Blocking Capacity: Authorities can freeze accounts and restrict withdrawals without prior notice.
Transaction Monitoring: Banks are required to report transactions considered suspicious or above certain values.
Seizure and Lien: Systems like Criptojud facilitate the automated seizure of assets under the custody of third parties (banks and brokers).
2. The Freedom of Self-Custody as a Counterpoint
Self-custody (direct possession of private keys) alters the dynamics of financial power:
Resistance to Censorship: Without an intermediary (like a bank manager), there is no central entity to block or reverse a transaction.
Immunity to Direct Freezes: Since assets are not in a bank account, the State cannot "push a button" to freeze the balance of a private wallet.
Privacy and Sovereignty: Reduces exposure of financial data to third parties and ensures that the individual is the only one with real control over their assets.
3. The Current Regulatory Scenario in Brazil
Even with the advancement of regulation, self-custody remains a right under discussion and practice:
Central Bank Resolutions: New rules for 2026 impose strict controls on exchanges (intermediaries), requiring identification of wallet owners in transfers, but private possession of keys in hard wallets or software wallets remains allowed.
Bill 311/25: A proposal is underway in the Chamber of Deputies to ensure the right to self-custody as an extension of property and privacy rights.
Taxation and Declaration: Self-custody does not exempt the citizen from tax obligations. For 2026, the requirement to declare crypto assets remains for those who owned R$ 35,000.00.