Cryptocurrency License in Brazil: New Opportunities for Business
In 2023, Law No. 14.478/2022 (BVAL) came into force in Brazil, which for the first time established uniform rules for regulating the cryptocurrency and virtual asset market. The supervisory authority is the Central Bank of Brazil (BCB), which received the authority to license and supervise virtual asset service providers (VASPs). This decision made Brazil one of the most progressive countries in Latin America in the field of digital finance.
To obtain a cryptocurrency license, a company must register with the BCB, meet capital, IT infrastructure and internal control requirements, and fulfill tax obligations. This approach ensures transparency and trust from investors, and reduces the risks of money laundering and fraud.
What is permitted by law
Brazilian law allows the ownership, purchase, sale and exchange of cryptocurrencies, their use as an investment instrument, as well as the provision of services with virtual assets subject to a license. Only the use of cryptocurrencies as legal tender is prohibited - the national currency remains the Brazilian real.
Regulatory Authorities
There are several structures responsible for the cryptocurrency market in Brazil: the Central Bank (BCB), the Securities Commission (CVM), the financial intelligence service COAF, and the tax authority RFB. This distribution of responsibilities allows for comprehensive control of VASP activities.
Financial Requirements
The minimum capital amount depends on the scale of the business: for small companies it is up to BRL 500,000, and for large players - up to BRL 3,000,000. In addition, legal entities pay corporate income tax, and the crypto platforms themselves are subject to VAT at 17%.
Why Brazil is attractive for business
The regulation of the crypto market makes Brazil especially interesting for international projects that are looking to enter the Latin American market. Clear rules of the game, tax certainty, and government support create favorable conditions for the development of startups and investment companies.
Obtaining a cryptocurrency license in Brazil opens up broad opportunities for running a legal business, attracting investors, and expanding into new markets. However, the registration process requires a deep understanding of local regulations and legal support.
IT-OFFSHORE is ready to help you obtain a cryptocurrency license in Brazil quickly and in compliance with all legal requirements.
