End of deadline for BC license redesigns who can operate crypto assets in Brazil
Without authorization from the Central Bank, virtual asset companies will not be able to continue operating in the country; 17 names have already filed a request or confirmed that they would do so.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM INFOMONEY · 3 MIN
The deadline for virtual asset companies to request authorization from the Central Bank ended on Friday (30). According to the rule, anyone who does not obtain a license cannot continue operating in the country, and this changes the scenario for the entire cryptoactive market, which now has a formal criterion for who can operate.
According to InfoMoney and Money Times, companies classified as virtual asset service providers can buy, sell, exchange, custody or intermediate cryptoassets. InfoMoney calls these companies SPSAV (Virtual Asset Service Provider Companies), while Money Times uses the acronym PSAV. In practice, the requirement falls on the central activities of brokers and platforms that provide access to digital currencies.
A survey by Broadcast, from Grupo Estado, cited by both vehicles, points to 17 companies that have already filed a request or confirmed that they would do so. The list brings together global brokers such as Binance, OKX, Coinbase, Bybit and Ripple, the B3 exchange and large banks and fintechs, including Bradesco, Itaú and Nubank, as well as Coins.xyz, Onda Finance, Mercado Bitcoin, Crown, Ripio, Urban, Foxbit and BLOX Trade.
Another six companies reported, through their own channels, that they had made the request: Liqi, Lumx, Inter, Avenia, Revolut and Bloquo. The number shows that the movement is not limited to the big houses in the sector, and that competition must take place between those who can meet the regulatory requirements.
For the free market, the definition of clear rules reduces legal uncertainty and more clearly separates those who operate regularly. The cost, however, is the entry barrier: smaller companies need to bear compliance requirements, which can favor those who already have a consolidated structure in the financial system.
What changes for the investor
The most immediate effect is the organization of the market. Requesting a license is not equivalent to obtaining it, and the published list shows who filed or confirmed the request, not who has already been approved, information that the sources do not provide. If the rule is complied with, investors can gain predictability about where they store their assets and with whom they negotiate, but they may also see a reduction in the number of platforms available to those who work with companies that are not authorized. The article does not provide any indication about prices, and this analysis is not a recommendation to buy or sell.
Automatically translated from Portuguese.
