Overview
- The central bank published Resolutions 519–521 on November 10, setting rules that take effect on February 2, 2026 with monthly reporting starting May 4, 2026 and a nine‑month compliance window to November 2026.
- All virtual‑asset service providers must obtain authorization as SPSAVs, with foreign companies required to establish a local entity to continue serving Brazilian customers.
- Minimum capital thresholds range from 10.8 million to 37.2 million reais depending on business type, exceeding levels floated during public consultations.
- Transactions with unlicensed foreign counterparties are capped at $100,000 per transfer, and licensed intermediaries must identify self‑custody wallet owners and verify asset origin and destination.
- Purchases, sales and exchanges of fiat‑pegged tokens and relevant cross‑border transfers are now treated as FX operations to extend AML/CFT, governance and consumer‑protection standards, with industry groups warning of consolidation pressure on smaller firms.