Authorization regime
Defined authorization route for VASPs, with ongoing supervision and reporting expectations.
LATAM • CRYPTO LICENSING
Brazil: VASP License (BCB Framework)
Brazil has moved into a formal authorization regime for Virtual Asset Service Providers (VASPs), overseen by the Central Bank of Brazil (BCB). We help founders map their modality, prepare governance and compliance controls, and build an authorization-ready operating structure.
BCB framework effective: 2 Feb 2026
FX / stablecoin perimeter phase-in: 2026
Capital scope: R$10.8m–R$37.2m
General information only; not legal, tax, or investment advice.
What changed in Brazil
The new BCB-led framework introduces a defined authorization path and clearer expectations for operational controls, client-asset safeguards, and cross-border exposure management.
Service modalities
Activity scope generally aligns to intermediation (broker/exchange), custody, and related brokerage functions.
FX / stablecoin perimeter
Certain virtual-asset cross-border and fiat-referenced stablecoin activity can fall under Brazil’s FX perimeter as phase-in rules advance.
What regulators will expect
A practical checklist of pillars you should plan for before formal authorization steps.
Governance & fit-and-proper
- Clear management structure and accountability
- Board / leadership suitability and oversight readiness
- Documented internal control ownership
AML/CTF program
- KYC and risk-based onboarding framework
- Monitoring and SAR workflow design
- Policy and control documentation aligned to scope
Client-asset safeguards
- Segregation and custody control architecture
- Reconciliation procedures and evidence logs
- Reserve statements where applicable
Capital & financial robustness
Capital expectations vary by activity scope and risk profile, with published ranges commonly framed between R$10.8m and R$37.2m .
Note: exact requirements depend on your model scope and final applied guidance.
Engagement options
Choose support level based on whether you’re entering Brazil for the first time or transitioning an active operation.
Readiness Snapshot
Send your services, client regions, stablecoin usage, and current status. We’ll return a clean next-step plan.
Includes modality + FX perimeter notes and priority actions.
New Entrant Readiness
- Activity mapping (modality + FX perimeter)
- Governance and internal controls blueprint
- AML/CTF policy pack and procedures
- Client-asset safeguarding design
- Authorization-path documentation checklist
Best for: platforms entering Brazil for the first time.
Incumbent Transition Plan
- Gap assessment vs. BCB expectations
- Phased transition roadmap
- Policy and control upgrades
- Reporting readiness + evidence pack
- Operational remediation support
Best for: VASPs already operating that need structured transition delivery.
Key timeline markers
- Framework effective date: 2 Feb 2026
- FX/stablecoin perimeter: phased implementation in 2026
- Authorization expectations tied to activity scope
Pricing approach
Pricing is provided privately after short scoping because requirements vary by activity model, operational design, and compliance scope.
How the engagement works
Remote-friendly execution from model scoping to authorization-ready operations.
1
Model mapping
Define your modality (exchange / broker / custody) and identify FX/stablecoin touchpoints.
2
Entity & governance plan
Structure local presence, roles, oversight, and control environment aligned with framework expectations.
3
Compliance build
Build AML/CTF program, monitoring approach, client-asset safeguards, and incident-response playbooks.
4
Evidence pack & reporting readiness
Prepare policies, procedures, registers, and supporting evidence for the authorization pathway.
5
Transition support (if applicable)
For incumbents: staged remediation plan and upgrades aligned with implementation milestones.
FAQ
Quick answers to common Brazil VASP questions.
Do I need authorization to operate a crypto exchange in Brazil?
Under the BCB framework, providing virtual-asset services in Brazil generally requires authorization depending on your activity scope and client-facing operations.
Does this affect stablecoin products?
Certain stablecoin and cross-border virtual-asset activity can fall under Brazil’s FX perimeter, with phased implementation in 2026.
Can a foreign company serve Brazilian users without a local entity?
Many models require local structuring and a clean authorization route. We assess your current setup and recommend the most efficient path.
How do you price engagements?
Pricing is shared privately after a short scoping call due to variation in modalities, control requirements, and transition complexity.
Exploring Brazil?
Send your model and target services, and we’ll provide a private readiness overview (modality, FX/stablecoin notes, and clean next steps).