Crypto Law Profile
Brazil’s Law 14,478/2022 sets federal rules for virtual asset services and VASPs, requiring authorization, preserving CVM securities jurisdiction, and adding criminal/AML measures. BCB implementation rules are active.
Brazil’s Virtual Assets Legal Framework is Law No. 14,478 of Dec. 21, 2022, a federal statute setting baseline rules for virtual asset services and virtual asset service providers, or VASPs, in Brazil. The law took effect on Jun. 20, 2023, after a 180-day vacatio legis, and is now implemented through Decree No. 11,563/2023 and Central Bank of Brazil, or BCB, Resolutions Nos. 519, 520 and 521. This profile treats the framework as in force as of Jun. 3, 2026, with transition milestones continuing through 2026.
The statute is a framework law rather than a full operating manual. It defines virtual assets, identifies covered activities, requires prior authorization for VASPs operating in Brazil, gives the Executive Branch power to assign regulatory authority, and updates criminal and anti-money-laundering laws for conduct involving virtual assets.
Law 14,478/2022 defines a virtual asset as a digital representation of value that can be traded or transferred electronically and used for payments or investment. The definition excludes national and foreign currency, electronic money, loyalty points or similar access instruments, and assets already regulated as securities or financial assets.
The framework treats a VASP as a legal entity that performs, on behalf of third parties, at least one covered virtual asset service. Covered activities include exchange between virtual assets and fiat currency, exchange between virtual assets, transfer, custody or administration of virtual assets, and financial services connected to an issuer’s offer or sale of virtual assets.
VASPs may operate in Brazil only with prior authorization from the designated federal authority. Decree No. 11,563/2023 assigns that role to the BCB, including authority to regulate virtual asset services, authorize and supervise VASPs, and discipline their operation. The decree does not alter the jurisdiction of the Comissão de Valores Mobiliários, or CVM, over securities.
BCB Resolutions 519, 520 and 521 now supply the main implementing layer. Resolution 519 addresses authorization procedures for VASPs and related financial-market entities. Resolution 520 governs the constitution, operation, governance and service rules for Brazilian virtual asset service companies and for BCB-authorized institutions. Resolution 521 brings specified virtual-asset activities into the foreign exchange and international-capital framework, including certain transfers and fiat-referenced virtual asset operations.
The law’s policy directions include free enterprise and competition, governance, transparency, risk-based controls, information security, data protection, consumer protection, operational soundness, and prevention of money laundering, terrorism financing and proliferation financing. Brazil’s Consumer Defense Code applies to virtual asset market operations where relevant.
The framework also creates a criminal-law hook for fraud involving virtual assets, securities or financial assets and adds VASPs to Brazil’s anti-money-laundering perimeter. Those provisions connect virtual asset services to financial-crime, consumer-protection and supervisory frameworks already used in Brazil’s regulated financial markets.
| Date | Milestone |
|---|---|
| Dec. 21, 2022 | Law 14,478/2022 enacted. |
| Jun. 20, 2023 | Law and Decree 11,563/2023 became effective. |
| Nov. 10, 2025 | BCB published Resolutions 519, 520 and 521. |
| Feb. 2, 2026 | Core BCB implementing resolutions took effect. |
| Oct. 30, 2026 | Key transition deadline for existing providers and counterparty restrictions. |
As of Jun. 3, 2026, the framework is active. Editors should track BCB sub-regulatory instructions and transition dates. This profile is informational and does not provide legal, tax, investment or compliance advice.
Defines virtual assets as digital value transferable electronically for payments or investment, excluding fiat, e-money, rewards and regulated securities/assets.
VASP operations in Brazil require prior authorization from a federal authority; Decree 11,563 names BCB as regulator and supervisor.
Covers fiat-crypto exchange, crypto-crypto exchange, transfer, custody or administration, and services tied to issuer offers or sales.
Requires BCB-set parameters for governance, transparency, risk controls, data security, consumer protection, sound operations and AML/CFT.
Excludes securities tokens governed by Law 6,385/1976 and preserves CVM jurisdiction over securities, including digital representations.
Adds Penal Code fraud involving virtual assets and brings VASPs into financial-crime and AML recordkeeping frameworks.
BCB Resolutions 519, 520 and 521 implement authorization, operating rules and FX/international-capital treatment for selected virtual-asset services.
Applies Brazil’s Consumer Defense Code to virtual asset market operations where applicable.
Brazil enacted Law 14,478/2022, the federal framework for virtual asset services.
The law was published in the Official Gazette, Section 1, page 3.
Decree 11,563/2023 assigned BCB authority over virtual asset service regulation and supervision.
Law 14,478/2022 and Decree 11,563/2023 entered into force.
BCB published Resolutions 519, 520 and 521 to implement the framework.
Core BCB implementing resolutions began to apply.
Certain information-reporting duties for virtual-asset FX operations became mandatory.
IN BCB 739 updated authorization-filing instructions linked to virtual asset service providers.
Consumers, Custodians, Exchanges, Virtual asset service providers
Crypto assets, Fiat-referenced virtual assets, Virtual assets
Status verified on 2026-06-03. Covers Law 14,478/2022, Decree 11,563/2023 and core BCB implementing rules. Review current BCB instructions before adding procedural authorization details.
