Client Alerts

Central Bank of Brazil publishes information on virtual asset services in the foreign exchange market

January 8th, 2026

On December 19, 2025, the Central Bank of Brazil (“BC”) published Normative Instruction (“IN”) No. 693, which establishes the procedures for submitting information to the BC regarding virtual asset services rendered in the foreign exchange market, in compliance with BCB Resolution No. 521, of November 10, 2025.

Key provisions:

Purpose and scope

The resolution addresses the procedures for reporting data on virtual asset transactions in the foreign exchange market, including the following activities or transactions:
- International payments or transfers conducted through virtual assets;
- Loading/unloading virtual assets onto cards or electronic payment instruments for international use;
- Transfers of virtual assets to or from a self-custodied wallet, not involving payments or international transfers with virtual assets;
- Aggregate monthly reporting of purchases, sales, and exchanges of virtual assets referenced in fiat currency.

Institutions subject to reporting

Information must be submitted by:
- Banks;
- Caixa Econômica Federal;
- Securities brokers;
- Securities distribution companies;
- Foreign exchange brokers; and
- Virtual asset service providers (“VASPs”).
The VASPs that are active as of the effective date of this resolution (February 02, 2026) and provide virtual asset services in the foreign exchange market must register with BC’s Information System (“SISBACEN”) and request access to the PSTA300 and SCAM0019 services.

Submission date

Information must be submitted using document code C212 – Provision of Virtual Asset Services in the Foreign Exchange Market (file ACAM212).
Submission can be carried out:
- Through a single consolidated monthly file, no later than the fifth business day of the month following the transaction; or
- Through multiple transmission files, provided that the deadline (the fifth business day of the subsequent month) is observed.
The initial reporting reference date will be May 2026.

Information submission

I – For transactions involving international payments or transfers through virtual assets, institutions must report:

· Date of transaction;

· Purpose of the transaction;

· Type of transaction: indication of whether the transaction is an inflow or remittance of virtual assets;

· Client identification, in compliance with Circular No. 3,978 of January 23, 2020;

· Name of the virtual asset;

· Quantity of virtual asset transferred;

· Reference value in Brazilian Reais (BRL) of the virtual asset unit on the transaction date; and

· Payer or payee abroad: name, country, and relationship or client association.

II – For transactions involving the loading or unloading of virtual assets in foreign currency onto cards or other electronic payment instruments intended for international use, institutions must report:

· Date of transaction;

· Type of transaction: indication of whether the transaction involves loading (reported as remittance) or unloading (reported as inflow);

· Client identification, in compliance with Circular No. 3,978 of January 23, 2020;

· Name of the virtual asset;

· Quantity of virtual asset transferred;

· Reference value in Brazilian Reais (BRL) of the virtual asset unit on the transaction date; and

· Payer or payee abroad: name and country.

III – For transactions involving the transfer of virtual assets through self-custodied wallets that are not linked to international payments or transfers, institutions must report:

· Date of transaction;

· Client identification, in compliance with Circular No. 3,978 of January 23, 2020;

· Name of the virtual asset;

· Quantity of virtual asset transferred;

· Identification of the holder of the self-custodied wallet; and

· Type of transaction: indication of whether the self-custodied wallet refers to origin (reported as inflow) or destination (reported as remittance)

IV – For aggregate monthly reporting of transactions involving virtual assets referenced in fiat currency, institutions must provide:

· Reference month;

· Client identification, in compliance with Circular No. 3,978 of January 23, 2020;

· Name of the virtual asset referenced in fiat currency;

· Monthly total; and

· Type of transaction: indication of whether the monthly total is received by the client (resulting from PSAV sales and exchanges) or submitted by the client (resulting from PSAV purchases and exchanges). In this case, the monthly total received must be reported as remittance and the monthly total delivered must be reported as inflow.

Additionally, the virtual asset code must be informed, in compliance with the list in Annex II of the IN. Currently, this list only includes 20 crypto assets, including, among others, BTC, ETH, and SOL, as well as the stablecoins USDT, USDC and BUSD.
For virtual assets not included in the list, institutions must provide descriptive information specifying the acronym and full name of the asset, reported under code 999.

Employee responsible for information submission

Institutions authorized to operate in the foreign exchange market and engaged in the provision of virtual asset services must designate an employee responsible for responding to any inquiries regarding the information submitted.

BCB IN No. 693 will come into force on February 02, 2026.

Read the BC resolution in full.

Demarest’s Banking and Finance team is available to provide any necessary clarifications on the subject.