Brazil

Brazil's central bank has issued Resolution BCB No. 584/2026, requiring crypto exchanges to delay transfers above $10,000 or flagged as risky to foreign platforms and self-custody wallets for up to 24 hours, effective January 1, 2027. The rule aims to curb fraud and money laundering, increasing compliance burdens on exchanges.

Brazil's ANPD has shifted from education to enforcement, with full regulatory autonomy since February 2026. Recent cases include fines for lacking a DPO, halting Worldcoin's iris scans, and a major case against Claro for improper data sharing. Companies processing biometric, health, financial, or children's data face heightened scrutiny.

Brazil's securities regulator CVM has formed a working group to draft an experimental framework for tokenized securities, with a primary proposal due within 60 days. The framework will address registration, custody, trading, and settlement using DLT, impacting the growing tokenized real-world asset market.

Brazil's central bank has introduced a dual-track regulatory framework for cross-border payments: one for traditional fiat FX (eFX licenses) and another for stablecoin-based payments (VASP/SPSAV licenses). This creates a complex compliance environment for firms operating in Latin America, requiring them to choose the appropriate regulatory rail.

Brazil's securities regulator CVM is open to reversing its decision to make ISSB sustainability reporting voluntary, potentially reinstating mandatory requirements. This shift could align Brazil with global standards and increase compliance obligations for companies.

Brazil's updated Regulatory Standard No. 1 (NR-1) requires employers to map and mitigate psychosocial risks, effective May 26, 2026. Companies should consider proactive measures like allowing World Cup viewing to reduce stress and improve morale.

Brazil has reversed its commitment to adopt mandatory ISSB sustainability disclosure standards, signaling a shift in its ESG regulatory approach. Companies operating in Brazil should monitor for any alternative reporting requirements.

Brazil's CVM has amended its regulation, shifting from mandatory to voluntary ISSB-aligned sustainability reporting for public companies. Companies opting out must publicly justify their decision, while those reporting must follow CBPS/ISSB standards for at least three consecutive years.

Brazil's Central Bank Resolution No. 561 prohibits stablecoin use for cross-border payments, requiring fiat-only settlement. Enhanced reporting, KYC, and 10-year data retention apply. Licensed payment providers and crypto firms must adapt by October 1, 2025.

Brazil's central bank issued Resolution No. 561, prohibiting eFX providers from using stablecoins, Bitcoin, or other cryptocurrencies to settle cross-border payments, effective October 1, 2026. eFX payments must now use traditional foreign exchange or non-resident real accounts. Unauthorized firms must apply for BCB approval by May 31, 2027.

Brazil's Central Bank is launching Pix Automatico on June 16, 2024, a new recurring payments feature within the Pix instant payment system. This regulatory-driven infrastructure change enables subscription-based payments with single consent authorization, replacing the legacy Boleto system and competing directly with credit/debit cards. Companies operating in Brazil must integrate with this new payment infrastructure to process recurring transactions.

Brazil's Central Bank is expanding the Pix instant payment system with a buy now, pay later (BNPL) feature called Pix Parcelado launching in September 2024. This represents a significant regulatory development as Pix transitions into credit-like services, though specific technical compliance requirements from the Central Bank are still pending. Financial institutions and fintech companies will need to adapt their systems to support installment loan management and ensure transparency around user debt.

Brazil's Finance Ministry is proposing to expand financial transaction taxes to include cross-border payments made with digital assets, specifically targeting stablecoin transfers. This regulatory change aims to close tax loopholes and address money laundering concerns while potentially boosting government revenue from the growing crypto market.

Brazil's securities regulator CVM has approved the launch of regulated 'event contracts' on the B3 exchange, creating Brazil's first federally regulated prediction market. These derivatives allow professional investors to bet on outcomes including bitcoin prices, with a minimum asset requirement of 10 million reais ($1.9 million). This represents a significant expansion of regulated crypto-linked financial products in Brazil's capital markets.