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Is crypto legal in Brazil? Rules & regulation (2026)

Crypto is regulated in Brazil.

Crypto is legal in Brazil and, as of 2 February 2026, subject to a comprehensive prudential and licensing regime. Law 14,478/2022 established Virtual Asset Service Providers (VASPs) as regulated entities under the Banco Central do Brasil, and BCB Resolutions 519/520/521 (published 10 Nov 2025) now impose authorization, capital, governance, segregation, AML/CFT and cross-border FX rules; tokens qualifying as securities remain under the CVM.

Last verified Official sources first · MethodologyCompare Brazil with other countriesAlso in português

Legal framework

Law No. 14,478/2022 (Brazilian Virtual Assets Law – 'Marco Legal dos Criptoativos'), implemented by Banco Central do Brasil (BCB) Resolutions Nos. 519, 520 and 521 of 10 November 2025 (in force 2 February 2026); Comissão de Valores Mobiliários (CVM) regulates tokens qualifying as securities under Law No. 6,385/1976; Receita Federal (RFB) governs tax reporting.

Status by sub-area

  • Stablecoins

    In force

    BCB Resolutions 520 and 521 (effective 2 Feb 2026), plus Resolution 561 of April 2026, regulate fiat-referenced virtual assets: reserve backing in fiat/government bonds of the reference currency is required, algorithmic stablecoins are banned, and stablecoin use in regulated cross-border payment rails is restricted.

  • Exchanges / VASP

    In force

    VASPs (Prestadoras de Serviços de Ativos Virtuais) must be authorized by the BCB under Resolution 519/2025, operating as Intermediary, Custodian or Broker; capital, governance, AML/CFT (Travel Rule), cybersecurity and reporting requirements apply from 2 February 2026 with a transition window ending 29 October 2026.

  • Token Offerings

    Partial

    Brazil has no dedicated ICO/STO statute; tokens that meet the definition of a security under Law 6,385/1976 fall under CVM jurisdiction (registration or exemption, disclosure, liability), while non-security utility/payment tokens fall under the BCB's VASP regime. CVM Resolution 88/2022 (crowdfunding) offers a route for small tokenized offerings.

    Still pending: CVM guidance on token classification and securities registration procedures still evolving

  • Custody

    In force

    Custody is one of the three licensed VASP modalities under BCB Resolution 519/2025. Custodians must fully segregate client crypto and fiat from own assets, meet enhanced capital thresholds, run annual stress tests, provide reserve attestations and are subject to independent audit.

  • DeFi

    Unclear

    Brazil has no dedicated DeFi statute. The BCB and CVM regulate identifiable operators of front-ends and services rather than autonomous protocols: if a person or entity provides a virtual-asset service to Brazilian users they are treated as a VASP or, where tokens are securities, as regulated by the CVM. Truly decentralized protocols/DAOs sit in a legal grey zone.

    Still pending: Legal status of autonomous/decentralized protocols (DAOs) undefined; regulatory treatment unclear

  • Tax

    In force

    Receita Federal treats crypto as a taxable asset. Capital-gains rates apply to disposals (including crypto-to-crypto), with a monthly R$35,000 sale exemption for domestic exchanges; offshore gains are taxed at a flat 15%. Annual DIRPF reporting is required for holdings ≥ R$5,000 and monthly DeCripto reporting begins July 2026.

Key points: crypto & digital assets in Brazil

  1. Comprehensive VASP licensing regime in force

    BCB Resolutions 519, 520 and 521/2025 took effect on 2 February 2026, requiring every exchange, custodian and intermediary to obtain BCB prior authorization under one of three modalities (Intermediary, Custodian, Broker). Existing operators have a transition window (2 Feb–29 Oct 2026) to apply; from Oct 2026 banks may not service unauthorized VASPs.

    bcb.gov.br chambers.com

  2. Statutory basis: Law 14,478/2022

    The Brazilian Virtual Assets Law (Marco Legal dos Criptoativos), enacted 21 December 2022 and effective 20 June 2023, defines virtual assets and VASPs and designates the BCB (by Decree 11,563/2023) as the competent authority — while carving out tokens that qualify as securities to the CVM.

    ibanet.org globallegalinsights.com

  3. Prudential requirements: capital, segregation, cyber

    Minimum capital of R$10.8M–R$37.2M (roughly USD 2–7M) depending on modality; strict segregation of client virtual assets and fiat from firm assets; governance, cybersecurity, risk policies, independent audits and full traceability of operations. Custodians must run annual stress tests documented for five years.

    cryptobriefing.com notabene.id

  4. Stablecoins integrated into FX rules; crypto FX ban for eFX

    Resolution 520 defines fiat-referenced virtual assets (stablecoins) and requires reserves of fiat/government bonds of the reference currency; algorithmic stablecoins are prohibited. Resolution 521 subjects cross-border stablecoin/crypto flows to Brazil's FX regime (caps of USD 500k for banks, USD 100k for VASPs). BCB Resolution 561 of 30 April 2026 further bans use of stablecoins and other crypto by regulated electronic FX (eFX) providers for cross-border settlement.

    bcb.gov.br coindesk.com

  5. Tokens-as-securities under CVM

    The CVM applies Law 6,385/1976 to tokens that qualify as securities/collective-investment contracts (Howey-like test); prospectus/disclosure and registration or exemption apply, and white papers do not substitute for prospectuses. Investment crowdfunding under CVM Resolution 88/2022 is a route for small tokenized offerings; a regulatory sandbox exists (CVM Resolution 29/2021).

    gov.br financierworldwide.com

  6. Tax: capital gains + reporting obligations

    Receita Federal treats crypto disposals (including crypto-to-crypto) as taxable events. Domestic exchanges: progressive 15%–22.5% capital-gains rates by monthly gain bracket, with a R$35,000/month sale exemption; offshore gains taxed at a flat 15%. Annual DIRPF reporting is required for holdings ≥ R$5,000; monthly reporting via the new DeCripto system starts July 2026.

    coinledger.io tokentax.co

Timeline of decisions

  1. Decision
    Brazil to tighten crypto fraud controls with new 24-hour wait on transfers to self-custody wallets

    The Block

  2. Decision
    Brazil's central bank orders exchanges to delay large crypto transfers abroad

    CoinDesk Policy

  3. Guidance · official
    Receita Federal replaces crypto tax-reporting regime (IN 2291/2025)

    Brazil's Federal Revenue Service issued Normative Instruction RFB No. 2,291, revoking the 2019 IN 1888 and modernizing mandatory crypto-transaction reporting; the new regime takes effect July 1, 2026, aligning reporting with the new VASP framework and international standards.

    Receita Federal (Brazil)

  4. Guidance
    BCB issues comprehensive VASP licensing framework (Resolutions 519, 520, 521)

    The Central Bank published three resolutions defining virtual asset service providers, setting authorization and operational requirements, and folding certain crypto activities into the FX regime. Existing operators must apply for authorization between Feb 2 and Oct 29, 2026.

    ANBIMA

  5. Decision · official
    Central Bank issues VASP regulations (Resolutions 519, 520, 521)

    The Banco Central do Brasil published three resolutions implementing the 2022 Virtual Assets Law: authorization, constitution and operation of virtual-asset service providers (PSAVs), plus their treatment in the FX market. The framework establishes licensing, prudential and AML rules, with Resolution 519 effective February 2, 2026.

    Banco Central do Brasil

  6. Guidance · official
    Central Bank opens public consultations on crypto rules

    The BCB launched Public Consultations No. 109 and 110/2024 (followed by No. 111 on Nov 29) proposing the regulatory framework for virtual-asset service providers and their inclusion in the FX market, with contributions accepted until February 7, 2025.

    Governo Federal (Participa + Brasil)

  7. Law · official
    Virtual Assets Law (14,478) enters into force

    Brazil's Legal Framework for Virtual Assets became effective 180 days after publication, formally bringing crypto-asset services under a national regulatory regime and into the scope of money-laundering and consumer-protection law.

    Presidência da República (Planalto)

  8. Law · official
    Decree 11,563 names Central Bank as crypto regulator

    The federal government issued Decree No. 11,563/2023 designating the Banco Central do Brasil as the authority to regulate, authorize and supervise virtual-asset service providers, while preserving the securities regulator (CVM) jurisdiction over tokens that qualify as securities.

    Presidência da República (Planalto)

  9. Law · official
    Virtual Assets Law (Lei 14.478/2022) enacted

    Brazil's first crypto statute set guidelines for virtual asset services and VASPs and added them to AML/KYC obligations; a 2023 decree designated the Central Bank as regulator and supervisor. It established the legal basis for licensing crypto firms.

    Planalto (Presidency)

  10. Guidance · official
    CVM issues Guidance Opinion 40 on crypto-assets as securities

    The securities regulator CVM published Parecer de Orientação No. 40, consolidating its view on when crypto-assets qualify as securities subject to its jurisdiction, clarifying the boundary with the Central Bank and emphasizing disclosure and investor protection.

    CVM (Comissão de Valores Mobiliários)

  11. Decision
    CVM approves Latin America's first Bitcoin ETF

    The CVM approved QR Capital's bitcoin ETF (ticker QBTC11), the first in Latin America; it began trading on the B3 exchange in June 2021, signaling regulatory acceptance of regulated crypto investment products.

    The Block

  12. Guidance
    Receita Federal mandates crypto-transaction reporting (IN 1888)

    The Federal Revenue Service issued Normative Instruction RFB No. 1,888, requiring exchanges and high-volume individuals/entities to report crypto operations monthly (effective Aug 1, 2019), establishing Brazil's first comprehensive crypto tax-transparency regime.

    Receita Federal (via LegisWeb)

Sources

  1. bcb.gov.br/en/pressdetail/2639/nota
  2. gov.br/cvm/en/international-affairs/cvm-statement-on-initial-coin-offering-i
  3. ibanet.org/Brazil-legal-framework-for-cryptoassets-and-upcoming-regulation
  4. globallegalinsights.com/practice-areas/blockchain-cryptocurrency-laws-and-regulations/brazil/
  5. chambers.com/articles/new-regulatory-framework-for-virtual-asset-service-providers
  6. notabene.id/post/brazils-central-bank-regulates-virtual-asset-service-providers-w
  7. coindesk.com/policy/2026/05/02/brazil-s-central-bank-bans-stablecoin-and-crypto-se
  8. coinledger.io/blog/brazil-crypto-tax
  9. cryptobriefing.com/brazil-central-bank-crypto-vasp-rules/
  10. financierworldwide.com/regulating-crypto-assets-in-brazils-capital-markets
  11. tokentax.co/blog/crypto-taxes-brazil

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Orientation, not legal advice: verify against the primary sources linked above. Last verified 4 Jul 2026. Methodology & how to cite · State of Technology Regulation 2026