The Central Bank of Brazil recently issued IN 701/2026, a set of rules for banking institutions and brokers offering crypto-related services, establishing new compliance requirements.
Before operating, these institutions will have to enlist the services of an independent, qualified company to certify that they comply with the rules issued by the bank for virtual assets service providers (VASPs).
These independent companies must certify that the institutions segregate assets, meaning that user funds cannot mingle with the company’s own resources, and provide proof of reserves for all the digital assets owned by customers and the company.
For Isac Costa, professor and director of the Brazilian Institute of Technology and Innovation (IBIT), this means banks can operate without completing the whole authorization process for common VASPs as long as they obtain certification.
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