Brazil

Regulatory Status

Jurisdiction code

BR

Regime

Licensing

Regulator

BCB / CVM

Governing law

Crypto Assets Law (14,478/2022)

Travel Rule

Legislated

Tracked entities

20

Recognized stablecoin backing

fiat-backed, crypto-backed, commodity-backed

Yield-bearing stablecoins

Restricted

Currency

BRL

Regulatory approach

Brazil's central bank designated by Law 14,478/2022 (effective June 2023) and Decree 11,563/2023 as primary regulator for virtual asset service providers; BCB oversees authorization, licensing, and supervision of SPSAVs; manages AML/CFT compliance, reserve requirements, asset segregation, and foreign exchange market integration of stablecoins; operates phased compliance approach with six-month transition periods for existing operators; focus on financial stability, consumer protection, and closing capital flow loopholes; under leadership of President Gabriel Galipolo and Director Gilneu Vivan. Single regulatory umbrella with comprehensive authority over digital assets and payment systems.

Licensed entities in Brazil

20 regulated-entity records tracked in Brazil by Plexo Institute.

Stablecoin laws in Brazil

Primary legal texts Plexo Institute tracks for Brazil.

• BCB Resolution No. 521 (enacted 2025-11-10)

  Amends BCB Resolutions No. 277, 278 e 279/2022 (which implement Lei 14.286/2021 – FX law) to integrate virtual‑asset and stablecoin operations into the foreign‑exchange regime. It: (i) qualifies payments and international transfers using virtual assets, including purchase, sale or exchange of stablecoins (ativos virtuais referenciados em moeda fiduciária), as FX‑related operations; (ii) sets specific limits, including a US$100,000 cap per operation when the counterparty is not authorized to operate in the FX market; and (iii) creates granular data‑reporting duties on virtual‑asset FX flows and transfers to/from self‑custody wallets. This is effectively what classifies stablecoin movements as foreign‑exchange operations for Brazilian regulatory purposes.

• The Virtual Assets Act (Law 14,478/2022) (In Force) (enacted 2023-06-20)

  The Virtual Assets Act is a guideline for providing services with virtual assets. Under Law 14,478, there are 3 key resolutions (Collectively, it’s recognised as the “new rules”):; BCB Resolution 519: Addresses the authorisation process for SPSVAs (Also known as VASPs).; BCB Resolution 520: Addresses the key regulation that governs the operations of SPSVAs and other authorised institutions in handling Brazil's virtual-asset market.; BCB Resolution 521: Addresses the integration of virtual asset activities into Brazil’s foreign exchange regime; Resolution 521 amends resolutions 277, 278 and 279 of 31 December 2022

• Decree No. 11.563 (enacted 2023-06-13)

  Presidential decree that regulates Lei 14.478/2022 for institutional competence. It formally designates the Banco Central do Brasil (BCB) as the authority to regulate, authorize, and supervise virtual asset service providers (PSAVs), except where tokens qualify as securities (CVM competence). This is what legally anchors BCB’s later stablecoin/PSAV resolutions. Enters into force 2023‑06‑20.

Regulatory events in Brazil

Dated regulatory developments Plexo Institute tracks for Brazil, most recent first.

• Brazilian Central Bank (BCB) issued Resolutions BCB No. 519, 520 and 521 take effect (2026-02-02 · Regulatory)
• Central Bank publishes Resolutions BCB No. 519, 520 and 521 (2025-11-10 · Regulatory)

  New rules under Law No 14,478

• Law No 14,478 takes effect (2023-10-20 · Regulatory)
• Presidential Decree No 11,563 appointing the Central Bank of Brazil as the primary authority to regulate provisions of virtual assets services. (2023-06-13 · Regulatory)
• Law No 14,478 - ‘Virtual Asset Act’ enactment (2022-12-21 · Regulatory)

  Progressed to live

Central bank digital currency in Brazil

Plexo Institute tracks 1 central bank digital currency programme in Brazil.

• Drex (Digital Real) — Status: Pilot · Central bank: Banco Central do Brasil (BCB) · Model: Wholesale · Technology: Hyperledger Besu (EVM-compatible)

Relationship Graph

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Jurisdiction FAQ

Who regulates Brazil?

The current Plexo Institute record lists BCB / CVM as the regulator for Brazil.

How many VASPs are tracked in Brazil?

20 VASP/entity records are tracked by Plexo Institute in Brazil.

What is the Travel Rule status in Brazil?

The current Plexo Institute record lists the Travel Rule status for Brazil as Legislated.

Source Evidence

This profile is compiled from official legislation and regulator records. Source confidence: official source evidence.

• BCB Crypto Regulation
• Atlantic Council Tracker
• Library of Congress