Brazil ranks as the world’s top country for grassroots crypto adoption, recording $252.5 billion in crypto activity between July 2025 and June 2026, according to Chainalysis.
Crypto platforms that apply on time can continue operating while regulators review their applications, which can take up to two years, according to Cendão
New entrants must obtain authorization before launching regulated services. Companies that miss the deadline must stop providing services within 30 days from Friday, said Marcelo de Castro Cunha Filho, a lawyer at Machado Meyer. From Nov. 6, banks and payment institutions will also face restrictions on conducting crypto transactions with unauthorized providers.
Under Brazil’s new rules, crypto service providers must verify the origin and destination of crypto transfers, including those involving self-custodial wallets. The rules also impose a $100,000 limit on certain international crypto transfers when the counterparty is not authorized to operate in Brazil’s foreign exchange market. Binance Brazil general manager Thiago Sarandy told Cointelegraph that questions remain over how exchanges should identify self-custody wallets, interpret a $100,000 operational limit and determine minimum transaction-reporting thresholds. “The lack of clarity creates a risky situation,” Sarandy said, warning that exchanges may report fragmented or inconsistent data to the regulatory authorities, which “puts in jeopardy the oversight capacity.” Related: France proposes liability for crypto exchanges offering DeFi access Sarandy said industry association ABCripto had submitted questions to the BCB but had yet to receive answers.