Content Gen Dashboard

Generated

1727 chars

Brazil's Central Bank Amends Virtual Asset Service Provider Regulations

On September 23, 2026, the Central Bank of Brazil (BCB) published Resolution BCB No. 589, which amends Resolution BCB No. 520 of November 10, 2025. The amendment modifies regulations governing virtual asset service provider companies and virtual asset service provision by other institutions authorised to operate by the BCB. The resolution introduces enhanced reporting requirements for eligible institutions providing virtual asset services. Institutions must now submit detailed information on accounting balances maintained for clients and users, virtual asset custody services (including total assets custodied domestically and internationally, broken down by quantity and financial value), verifiable proof of virtual asset reserves held for clients and users (itemised by asset type), and verifiable statements of total client or user virtual assets designated for staking operations where applicable. These information submissions must be made either from the commencement of virtual asset market services or immediately, depending on the institution category. The resolution also establishes a prohibition effective November 6, 2026, preventing financial institutions, payment institutions, and other BCB-authorised entities from conducting or facilitating virtual asset market operations with counterparties that provide virtual asset services but lack authorisation to operate in Brazil, except where expressly permitted under the resolution. The BCB will establish specific procedures and conditions for information submission through further regulation. The resolution enters into force in two phases: amendments to Article 91 take effect October 1, 2026, while remaining provisions take effect January 1, 2027.

Agent draft

$0.04 · 24.1s · 2059 chars

Central Bank of Brazil Amends Virtual Asset Service Provider Regulations Through Resolution No. 589

On September 23, 2026, the Central Bank of Brazil (BCB) adopted Resolution No. 589, amending Resolution BCB No. 520 of November 10, 2025, which governs the establishment and operation of virtual asset service providers and the provision of virtual asset services by other institutions authorized to operate by the BCB. The amendment strengthens reporting and transparency requirements for virtual asset service providers. It expands mandatory disclosure obligations to include: accounting balance information maintained on behalf of clients and users; detailed custodial asset information, including total quantities and financial values of virtual assets held domestically or internationally; verifiable proof of virtual asset reserves maintained, broken down by asset type with corresponding quantities and financial values; and verifiable demonstrations of total client virtual assets designated for staking operations, where applicable. These enhanced information requirements apply to eligible institutions either from the commencement of virtual asset market operations or immediately, depending on the institution category. The resolution also introduces a critical operational restriction. From November 6, 2026, financial institutions, payment institutions, and other entities authorized by the BCB are prohibited from conducting or facilitating virtual asset market operations with counterparties that provide virtual asset services but lack authorization to operate in Brazil, except where expressly permitted under the resolution. This measure aims to prevent Brazilian authorized institutions from transacting with unauthorized foreign virtual asset service providers, strengthening regulatory oversight and consumer protection. The BCB will establish specific regulations governing the format and conditions for submitting the expanded information requirements. The resolution enters into force in two phases: the operational restrictions take effect October 1, 2026, while the reporting and disclosure amendments take effect January 1, 2027.

3 tool calls

fetch https://www.bcb.gov.br/estabilidadefinanceira/exibenormativo?tipo=Resolu%C3%A7%C3%A3o%20BCB&numero=589 browser · 569 chars · 0 links
search "BCB Brazil virtual assets crypto VASP authorization" → nids 93713, 91847, 94270, 93417, 93254
search "BCB Resolution 520 virtual asset service providers Brazil proof of reserves" → nids 93713, 91707, 91320, 91382, 92328

Published

1708 chars

Central Bank of Brazil Publishes BCB Resolution No. 589 Amending Virtual Asset Service Provider Regulations

On September 23, 2026, the Central Bank of Brazil (BCB) published Resolution BCB No. 589, which amends Resolution BCB No. 520 . The amendment modifies regulations governing virtual asset service provider companies and virtual asset service provision by other institutions authorized to operate by the BCB. The resolution introduces enhanced reporting requirements for eligible institutions providing virtual asset services. Institutions must now submit: Detailed information on accounting balances maintained for clients and users. Virtual asset custody services (including total assets custodied domestically and internationally, broken down by quantity and financial value). Verifiable proof of virtual asset reserves held for clients and users (itemized by asset type). Verifiable statements of total client or user virtual assets designated for staking operations where applicable. These information submissions must be made either from the commencement of virtual asset market services or immediately, depending on the institution category. The resolution also establishes a prohibition effective November 6, 2026, preventing financial institutions, payment institutions, and other BCB-authorized entities from conducting or facilitating virtual asset market operations with counterparties that provide virtual asset services but lack authorization to operate in Brazil, except where expressly permitted under the resolution. The BCB will establish specific procedures and conditions for information submission through further regulation. The resolution enters into force in two phases: amendments to Article 91 take effect October 1, 2026, while remaining provisions take effect January 1, 2027.