Overview
- Resolutions 519, 520 and 521 establish a formal licensing regime for virtual‑asset service providers (SPSAVs/VASPs) aligned with bank‑grade oversight.
- Purchases, sales and exchanges of fiat‑pegged crypto, as well as international crypto payments, will be treated as foreign‑exchange operations.
- Minimum capital requirements start at 10.8 million reais and rise to 37.2 million reais for some activities, with a nine‑month compliance window for existing firms and a local‑entity mandate for foreign operators.
- Transfers involving self‑custodied wallets facilitated by licensed intermediaries fall under the rules, requiring identification of wallet owners and verification of asset origins and destinations.
- Transactions with unlicensed foreign counterparties are capped at $100,000 per transfer, with detailed monthly reporting to the central bank starting May 4, 2026, as officials target scams, money laundering and unrecorded flows.