Brazil’s Decree No. 11,563/2023 is the executive act that assigns federal regulatory competence for virtual asset services under Law No. 14,478/2022. Signed on June 13, 2023, published in the Diário Oficial da União on June 14, 2023, and in force from June 20, 2023, the decree identifies the Banco Central do Brasil as the federal authority responsible for the core virtual asset service provider framework.
The decree is narrow but important. It does not create a full standalone licensing manual. Instead, it activates the institutional allocation contemplated by Brazil’s virtual asset law: which federal authority should regulate the provision of virtual asset services, authorize providers, and supervise their operation. That makes the decree a bridge between the statute and the BCB’s later implementing regulations for prestadoras de serviços de ativos virtuais, often abbreviated as PSAVs or VASPs.
Key provisions of Brazil’s virtual asset regulatory competence decree
Banco Central do Brasil mandate
Article 1 gives the BCB competence to regulate the provision of virtual asset services, subject to the statutory guidelines in Law No. 14,478/2022. It also assigns the BCB authority to regulate, authorize and supervise virtual asset service providers. Article 2 further states that, for purposes of the statute’s framework, the BCB will discipline the functioning of those providers and will be responsible for their supervision.
Regulatory perimeter and institutional boundaries
Article 3 preserves important boundaries. The decree does not apply to assets representing securities that are subject to Law No. 6,385/1976, and it does not alter the powers of the Comissão de Valores Mobiliários. It also preserves the roles of Brazil’s consumer-defense system and authorities responsible for prevention and repression of crimes referenced by the virtual asset statute.
- Primary regulator: Banco Central do Brasil for virtual asset service providers.
- Securities boundary: CVM competence remains intact for securities, including digital representations of securities.
- Consumer and AML context: The decree does not displace consumer-protection or criminal-enforcement responsibilities preserved by the statute.
- Effective date: June 20, 2023.
Relationship to Law No. 14,478/2022
Law No. 14,478/2022 established Brazil’s statutory framework for virtual asset services. It requires prior authorization by a federal public administration body for virtual asset service providers to operate in Brazil, defines covered service categories such as exchange, transfer, custody or administration of virtual assets, and gives the executive branch responsibility for assigning supervision and operational-discipline functions. Decree No. 11,563/2023 performs that assignment by naming the BCB.
For readers tracking Brazil’s crypto law architecture, the distinction matters: the law establishes the framework and statutory definitions; the decree identifies the competent federal regulator; and BCB resolutions set detailed authorization, operating, governance, anti-money-laundering, foreign-exchange and prudential requirements. Those later rules should be tracked as related implementing instruments rather than treated as amendments to the decree unless an official amendment says so.
Status, timeline and implementation
| Event | Date | Reference point |
|---|---|---|
| Law No. 14,478/2022 signed | Dec. 21, 2022 | Created Brazil’s statutory virtual asset services framework. |
| Decree No. 11,563/2023 signed | June 13, 2023 | Assigned regulatory competence to the BCB. |
| Decree published | June 14, 2023 | Published in the Diário Oficial da União, Section 1, page 9. |
| Decree in force | June 20, 2023 | Operative date stated in Article 4. |
As of July 6, 2026, the Câmara dos Deputados legislation database lists no express revocation for Decree No. 11,563/2023. The legal profile should therefore treat the decree as in force, while separately tracking the BCB’s subsequent implementing regulations, including the 2025 virtual asset rules and the 2026 prudential classification measures for PSAVs.
Editorial note
This profile is a legal-reference summary, not legal, tax, investment or compliance advice. Market participants should consult the official legal text and qualified counsel before relying on any regulatory interpretation.