Brazil VASP and payment institution licensing — what the Central Bank requires

Virtual asset service providers

Lei 14.478/2022 is the legal framework for virtual asset services; Decreto 11.563/2023 designated the Banco Central do Brasil as regulator. Resolucao BCB 520/2025 governs the constitution and operation of virtual asset service companies, Resolucao BCB 519/2025 the authorisation processes and Resolucao BCB 521/2025 virtual assets in foreign exchange. Resolucoes 519 and 520 apply from 2 February 2026; part of 521 from 4 May 2026.

Key requirements

• The provider must be constituted in Brazil with head office and management in Brazil (Resolucao BCB 520, art. 1).
• Modalities: intermediation, custody and brokerage of virtual assets.
• Governance, segregation of client assets, cybersecurity, risk management and rules on listing virtual assets, including stablecoins.
• Transitional deadlines for providers already operating are set in the resolution.

Payment institutions

Payment institutions are governed by Lei 12.865/2013 and Resolucao BCB 80/2021, which sets the rules for their constitution, operation and authorisation. A model combining payments, virtual assets, foreign exchange or credit may need more than one authorisation.

Related pages

• Fintech strategies
• Case: fintech licensing
• Book a consultation

Contact

Arasari & Partners — Rodovia José Carlos Daux 4190, Florianópolis, Santa Catarina, Brazil. Email: info@arasari.com.br. Working languages: Portuguese, English, Spanish, Russian.

Engagements are non-discretionary advisory: we structure, coordinate licensed providers and track deadlines; decisions remain with the client.