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Brazil Finalizes Crypto Rules, Treats Fiat‑Pegged Tokens as Foreign Exchange

Enforcement begins in February 2026 to curb fraud by folding the booming stablecoin market into supervised FX channels.

The Central Bank of Brazil logo is seen at its headquarters in Brasilia, Brazil December 18, 2024. REUTERS/Adriano Machado/File Photo

Overview

  • The central bank extended anti-money-laundering, counter-terrorism financing, consumer-protection, governance and security requirements to virtual-asset service providers.
  • Any purchase, sale or exchange of virtual assets pegged to fiat will be treated as a foreign-exchange operation, including international payments and transfers via cards or other electronic methods.
  • The framework covers authorization processes for foreign-exchange and securities brokers, distributors and crypto platforms, with obligations becoming enforceable in February 2026.
  • Governor Gabriel Galipolo flagged the rapid growth of stablecoins and their links to illicit activity, while regulation chief Gilneu Vivan said the measures will reduce scams, fraud and money laundering.
  • The rules complete implementation of Brazil’s 2022 crypto law after four public consultations, giving the industry a short window to upgrade controls and reporting to meet the new standards.