How Brazilian companies should prepare for the new regulatory era of stablecoins and cryptoassets

Source: PortaldoBitcoin Original Title: How Brazilian Companies Should Prepare for the New Regulatory Era of Stablecoins and Cryptoassets Original Link: https://portaldobitcoin.uol.com.br/como-as-empresas-brasileiras-devem-se-preparar-para-a-nova-era-regulatoria-de-stablecoins-e-criptoativos/ The cryptoasset market in Brazil has just entered a new phase. With the publication of BCB Resolutions No. 519, 520, and 521 in November 2025 and Normative Instruction RFB No. 2291/2025, the country has consolidated the most structured regulatory framework in Latin America for companies operating with virtual assets, stablecoins, and tokenization. These rules determine who will be able to operate legally in the Brazilian market as of February 2026 and which companies will be left out for not meeting the new governance, capital, and compliance requirements. In this context, it is necessary to understand how the Brazilian market will adapt to this new regulation.

The new Central Bank rules establish that all companies providing intermediation, custody, or brokerage services for virtual assets—the so-called Virtual Asset Service Provider Companies (SPSAVs)—must obtain formal authorization to operate in Brazil. The new rules are set to take effect on February 2, 2026. From that date, SPSAVs already in operation will have 9 months to submit their authorization requests to the Central Bank, demonstrating compliance with all established requirements.

The Federal Revenue Service, in turn, has published Normative Instruction RFB No. 2291/2025, which updates the rules for reporting cryptoasset transactions, adopting the international CARF (Crypto-Asset Reporting Framework) standard from the OECD. Beginning in July 2026, all exchanges and service providers—including foreign companies operating in Brazil via .br domains, advertising targeted to the Brazilian public, or partnerships with local institutions—must report all transactions carried out on a monthly basis, with no minimum value threshold.

Individuals and legal entities conducting transactions without exchange intermediation (such as on decentralized platforms or peer-to-peer transactions) must also report to the Revenue Service whenever their monthly volume exceeds R$ 35,000. The goal is clear: to increase the traceability of financial flows, combat money laundering and tax evasion, and align Brazil with international transparency standards.

What’s important now is that there is increased dialogue between companies, regulatory agents, and other market players to understand all the details involved in this scenario of profound changes, opening up an essential space for regulatory translation and coordination between the market and supervisory authorities. In this way, it is possible to create a democratic environment where everyone can discuss, in a practical and transparent manner, how stablecoins, tokenization, and new international payment models fit within what the Central Bank and CVM consider acceptable.

The goal should be to reach a consensus that we now have a real opportunity to lead stablecoin regulation in the southern hemisphere, but this depends less on technical advances and more on institutional coordination among the Central Bank, Federal Revenue Service, CVM, and the market itself. The question is not whether stablecoins will have a place in Brazil, but whether the Brazilian regulatory framework will allow their sustainable development in the country.

Moreover, it is worth noting that stablecoins are forcing the financial system to compete on efficiency, not opacity. Traditionally, the earnings on bank deposits remained concentrated in the hands of financial institutions, which paid depositors rates far below what they earned by lending or investing that money. With stablecoins—especially those that distribute part of the earnings from reserve assets (such as US Treasury bonds, for example) directly to holders—this dynamic changes radically: the user starts to capture value that was previously exclusive to intermediaries.

This creates important regulatory challenges: if a stablecoin pays holders, it starts to compete directly with traditional fixed income products and may be viewed as a security, subject to CVM regulation. On the other hand, if there is no promise of yield and the token acts only as a digital representation of fiat currency, it may be classified as a payment method or foreign exchange instrument, under the purview of the Central Bank.

Brazil is positioning itself as a global laboratory for cryptoasset regulation, with significant advances in KYC, AML, and governance that can serve as a reference for other Latin American countries. Companies that already operate with strict standards for customer identification, monitoring of suspicious transactions, and asset segregation will have a competitive advantage when the rules come into force.

In terms of governance, oversight, and the balance between market freedom and systemic security, it is clear that the Central Bank does not intend to create barriers to innovation, but rather to establish minimum standards of security and transparency that protect investors and reduce the use of cryptoassets for illicit activities. These discussions have reinforced that regulatory translation events, where representatives from the Central Bank, CVM, traditional banks, fintechs, and law firms come together, are fundamental to building a more informed, prepared, and consequently, more sustainable market. They reduce information asymmetry, allow companies to structure business models with legal certainty, and create coordination spaces where fintechs, banks, tokenization platforms, and exchanges share experiences, discuss best practices, and collaborate on joint solutions.

Brazil is consolidating its position as a leader in cryptoasset regulation in Latin America. The country ranks fifth in the Chainalysis Global Crypto Adoption Index in 2025, up from 10th in 2024, and is the dominant crypto market in the region.

The new rules, while rigorous, are not intended to hinder innovation, but rather to professionalize the sector and attract institutional investors who previously avoided the market due to a lack of legal certainty. With a clear regulatory framework, banks, insurers, pension funds, and large corporations will be able to enter the cryptoasset market with greater confidence, significantly increasing the available capital volume.

In the case of stablecoins, expectations are for accelerated growth, especially in use cases focused on international payments, remittances, corporate treasury, and foreign trade. Estimates indicate that the global stablecoin market, which has already surpassed US$ 300 billion in capitalization, could move trillions of dollars in annual transactions by 2030.

The final message is clear: companies that do not meet regulatory requirements will be left out of the Brazilian market. And within regulatory boundaries, there is enormous room for innovation, efficiency, and growth. The future of digital finance in Brazil will be built by companies that understand this equation and act now to position themselves on the right side of history.