Brazil just drew a line in the sand for its crypto industry. The country’s Central Bank (BCB) published three new resolutions that impose demanding requirements on virtual asset service providers.

The rules, which take effect on February 2, 2026, require every exchange, custodian, and intermediary operating in Brazil to obtain prior authorization from the BCB.

What the new resolutions actually require

The regulatory package consists of Resolutions 519, 520, and 521, all published on November 10, 2025. Together, they create a framework that treats crypto firms less like tech startups and more like traditional financial institutions.

VASPs must now hold between R$10.8 million and R$37.2 million in capital, roughly…