Brazil
A statutory framework in place since 2022, with the Central Bank building out the operating rules.
Who regulates this
Banco Central do BrasilBCB
Virtual asset service providers under Law 14.478/2022 and implementing regulation.
Comissão de Valores MobiliáriosCVM
Tokens that constitute securities.
Licences and permissions
VASP authorisation
Exchange, transfer, custody and administration of virtual assets.
The BCB has been phasing in authorisation requirements and transition arrangements for incumbents — check the current stage before planning a launch date.
What it takes
Capital
Set by BCB regulation and scaled by activity.
Timeline
Still settling. Treat published timelines as provisional.
Substance
A Brazilian entity with local management.
Where a software vendor sits
Authorisation attaches to the VASP. Technology supply sits outside it, subject to the usual outsourcing accountability.
What catches people out
This regime is actively under construction. Anything you read about it — including this page — should be re-verified against the BCB's current normative acts before you rely on it.
Verify this yourself
We would rather you checked. These are the primary and authoritative secondary sources behind the summary above.