Brazil: Stage I of user identification requirements in Central Bank of Brazil Resolution No. 520 regulating the formation and operation of companies providing virtual asset services enters into force

On 2 February 2027, Stage I of the implementation period for anti-money laundering requirements in the Central Bank of Brazil (BCB) Resolution No. 520 regulating the formation and operation of companies providing virtual asset services enters into force. From this date, virtual asset service providers must transfer user information about originators and beneficiaries of transactions to accompany each transaction with other domestic service providers. The requirement will apply to all transactions, including international ones, from 2 February 2028.