Brazil

Legal

Virtual Asset (Ativo Virtual) · Comprehensive · #9 global adoption

ExchangesCustodiansBrokers/IntermediariesStablecoin issuers

Comprehensive framework Approved · 2022 CASP / VASP regime Approved · 2025 Licensing Approved · 2025 AML / CFT Approved · 2022 Stablecoins Comprehensive · Approved · 2025 CBDC In progress · 2024 Consumer protection Approved · 2025 Travel rule Yes Advertising rules Partial Taxation Taxed

Summary

Brazil has the region's most comprehensive crypto framework. Law 14.478/2022 (the Brazilian Virtual Assets Law, effective June 2023) created the legal framework for virtual asset service providers and designated the Banco Central do Brasil (BCB) as the competent regulator. In November 2025 the BCB issued Resolutions 519, 520 and 521, operationalizing VASP authorization, governance/AML/CFT and consumer-protection obligations, stablecoin rules (full fiat/public-debt backing, algorithmic stablecoins prohibited), the Travel Rule, and integration of virtual-asset activity into the FX regime. The BCB also runs the Drex project, a DLT-based tokenization platform. Crypto capital gains are taxed.

Timeline

Dec 2022: Law 14.478/2022 enacted. June 2023: law enters into force, BCB designated regulator. 2024: Drex tokenization/CBDC pilot advances. Nov 2025: BCB Resolutions 519/520/521 establish authorization, conduct/AML, stablecoin and FX rules. Travel Rule phased: domestic transfers by Feb 2027, cross-border by Feb 2028. By Feb 2026 providers must apply for BCB authorization, with non-compliant operations to cease by Nov 2026.