Brazil: Central Bank of Brazil Resolution No. 520 regulating the formation and operation of companies providing virtual asset services enters into force with grace period

On 2 February 2026, Central Bank of Brazil (BCB) Resolution No. 520 regulating the formation and operation of companies providing virtual asset services enters into force. The Resolution sets out the obligations of authorised virtual-asset service providers such as intermediaries, custodians or brokers. Certain specific obligations are subject to different implementation timelines. By 30 October 2026, authorised entities would no longer be permitted to conduct virtual asset operations with entities that are not authorised or in the process of authorisation, while institutions already operating in the virtual asset market on the date the Resolution entered into force must make formal communication to the BCB and adjust their operating processes by that date to continue operating. The user identification requirements which are part of the anti-money laundering provisions are implemented in two stages, becoming applicable to domestic information transfers on 2 February 2027, and to international transfers on 2 February 2028.