Brazil’s central bank issued its most sweeping crypto regulations to date, creating a formal licensing regime for service providers and classifying a broad range of crypto activities as subject to foreign exchange and capital market rules.
The framework introduces three resolutions that define how crypto businesses must operate in South America’s largest economy, how much capital they must hold, and how international crypto transactions will be treated under law. The rules take effect Feb. 2 and existing companies have nine months from then to comply
Brazil’s Central Bank Sets Crypto Rules, Establishes up to $7M Capital Bar for Firms
Gold Hits Record Levels – Trade and Capture the Opportunity
Brazil’s central bank issued its most sweeping crypto regulations to date, creating a formal licensing regime for service providers and classifying a broad range of crypto activities as subject to foreign exchange and capital market rules.
The framework introduces three resolutions that define how crypto businesses must operate in South America’s largest economy, how much capital they must hold, and how international crypto transactions will be treated under law. The rules take effect Feb. 2 and existing companies have nine months from then to complete.
The regime marks Banco Central do Brasil's most comprehensive attempt yet to govern its fast-growing, but largely unregulated, crypto sector. While the central bank has floated various proposals since 2019, progress has been halting due to institutional friction and industry resistance.
The challenge “was finding a way to unite innovation and security,” Gilneu Vivan, the bank's director of regulation, said at a press conference, according to local news outlet Portal do Bitcoin. “The crypto market depends heavily on technology and has very important obligations related to anti-money laundering. All of this requires guarantees that it will be well executed.”
Some of the banks' regulations, including capital requirements and timescale came under attack from the crypto industry.
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