The Central Bank of Brazil (BCB) has officially issued a comprehensive set of rules, marking a significant step forward in managing and supervising the rapidly developing digital asset sector in the country. The core objective of the new regulations is to enhance the control of the regulatory authority, create a more transparent operating environment, and resolutely prevent illegal activities, money laundering in the cryptocurrency space. This set of rules is of great significance, reshaping the way digital asset service providers (VASP) operate in one of the most vibrant crypto markets in Latin America.
The key and mandatory point of the new regulation is the requirement that all digital asset service providers must be officially licensed by the Central Bank. This is a move to end the era of uncontrolled activities, forcing entities participating in the market to comply with the strict standards of traditional finance. BCB has classified these businesses into three main functional groups: trading intermediaries, custodial units, and brokers. This clear division allows BCB to apply specialized supervisory standards for each role, thereby enhancing safety and accountability across the entire value chain of the industry.
To qualify for licensing, companies must not only register but also demonstrate superior management capabilities. Companies must establish and maintain strict compliance systems, including anti-money laundering (AML) and counter-terrorism financing (CFT) programs according to international standards. At the same time, operational risk management and market risk must also be prioritized. In particular, BCB requires VASPs to build robust cybersecurity policies and detailed incident response procedures to protect customer assets from increasingly sophisticated digital threats. These stringent requirements not only aim to protect consumers but also to bolster the confidence of traditional financial institutions in the legitimacy of the crypto industry.
Another significant legal change is the expansion of the regulatory scope of the foreign exchange regulation #Brazil to transactions involving digital assets. Specifically, all transactions buying and selling stablecoins pegged to fiat currencies (such as BRL, USD) or international money transfer activities conducted using digital assets will fall under this regulatory framework. This indicates that BCB is increasingly viewing stablecoins and crypto money transfer services as financial instruments capable of impacting macroeconomic stability and international capital flows. The application of traditional foreign exchange rules to crypto is a functional acknowledgment of the role of stablecoins in cross-border trade and payments.
Furthermore, the regulation establishes a maximum transaction limit of only 100,000 USD for transactions carried out with unlicensed partners. This measure aims to encourage or require large value transactions to be processed through VASP organizations licensed and supervised by the Central Bank of Brazil, creating a legal barrier to filter large cash flows and ensure compliance. Overall, this new set of rules takes Brazil a long step closer to creating a structured and secure digital financial environment, while also putting significant pressure on VASPs to raise operational standards to maintain a legitimate foothold in the market. #anh_ba_cong
