Brazil’s Central Bank to implement new regulations for the cryptocurrency market

The Central Bank of Brazil will implement new regulations in the cryptocurrency market to prevent crimes such as money laundering and other illicit activities in the digital sphere.

According to the announcement made on Monday, November 10, the new BCB regulations will take effect in February 2026 and will focus on controlling international transfers of virtual assets, subjecting them to the existing legislation for the foreign exchange market.

“In addition, there will be a limit equivalent to US$100,000 for transactions carried out with companies that are not duly registered as operators in the national foreign exchange market,” according to the regulatory body.

Furthermore, it is anticipated that companies operating in these virtual markets in the South American country “must have a minimum capital of between 10 and 37 million reais (US$1.8 million), depending on the area in which they operate, and have proper legal representation in the country.”

It is important to note that the Central Bank of Brazil has set a nine-month deadline, starting from the date the regulations come into effect, “for companies already operating in the national virtual currency market to adapt to these requirements.”

M.Pino

Source: swissinfo

(Reference image source: Erling Løken Andersen on Unsplash)

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