The adoption of blockchain technology and asset tokenization is advancing at a rapid pace, but the real engine driving its global development is the existence of a clear, consistent and innovation-friendly legal framework.
Some countries have already established themselves as regulatory benchmarks, establishing specific rules for cryptoassets, DLT infrastructures and token issuance with legal backing. In this article we show you relevant information about blockchain regulation in Brazil, which you can use as a guide if you are looking to operate internationally or evaluate different strategic locations.
Current legislation on blockchain and virtual assets in Brazil
Law No. 14.478/2022 (Legal Framework Cryptoassets)
This law establishes the general framework for services related to virtual assets in Brazil. It defines the concepts of virtual assets and PSAV, imposes registration, transparency and AML/CFT compliance obligations, and designates the Central Bank of Brazil as the supervisory authority for activities that do not qualify as securities.
CVM Securities Token CVM Instructions
The Securities and Exchange Commission (CVM) regulates tokens that qualify as transferable securities. These must comply with the Securities Market Law, including requirements for public offering, prior authorization, and rules on market transparency and integrity. Issuers and trading platforms are subject to direct supervision by the CVM.
BCB Resolutions No. 519, 520 and 521 (November 10, 2025)
On November 10, 2025, the Central Bank of Brazil published the complete regulatory framework for Virtual Asset Service Providers (PSAVs), consisting of three resolutions that come into force on February 2, 2026. Resolution 519 establishes the authorization process to operate; Resolution 520 regulates the incorporation, operation and supervision of PSAVs, including capital requirements (between R$10.8 million and R$37.2 million depending on activities), governance, cybersecurity and equity segregation; Resolution 521 regulates the use of virtual assets in foreign exchange and international investment operations. PSAVs already in operation have a transitional period of 270 days from the entry into force to request formal authorization.
AML/CFT regulations applicable to cryptoassets
Brazil has strengthened the framework for the prevention of money laundering and terrorist financing for the virtual asset sector. PSAVs and issuers must implement KYC controls, transaction monitoring and mandatory reporting to the Financial Intelligence Unit (COAF), under standards aligned with FATF recommendations.
Decree No. 11,563 (June 13, 2023)
This decree regulated Law 14,478/2022 and formally designated the Central Bank of Brazil as the supervisory authority for Virtual Asset Service Providers (PSAV). It defines the activities that fall under the BCB’s supervision, establishes the duty of coordination with the CVM for assets that may be classified as PSAVs, and lays the regulatory foundation on which the BCB subsequently developed Resolutions 519, 520 and 521 of November 2025.
Regulatory sandboxes (BCB, CVM and SUSEP)
Brazil has separate sandbox initiatives per regulator. The BCB manages the LIFT (Laboratório de Inovações Financeiras e Tecnológicas) together with FEBRABAN for fintech and blockchain projects. CVM has its own regulatory sandbox for securities. SUSEP manages a sandbox for insurance. The three regulators coordinate their approaches but each manages its own experimental authorization processes.
Tokenization makes it possible to digitally represent real-world assets through blockchain, but for it to have legal value, it is essential that there is a regulatory framework that recognizes this operation. Brazil adopts its own approach, establishing specific rules for the issuance, custody or trading of tokens. In this block we explain how asset tokenization is regulated from a legal point of view, taking an advanced jurisdiction such as Brazil as an example.
Regulation of asset tokenization in Brazil
Brazil allows the tokenization of both financial and non-financial assets, under a structured legal framework. Tokens representing transferable securities (shares, debt, fund shares) are regulated by the CVM, which applies the Securities Market Law. They require registration or prior authorization and must be traded on regulated markets or authorized platforms.
Non-financial tokens, such as real estate or commodities, fall under Law 14,478/2022 and the regulatory framework of the Central Bank of Brazil. PSAVs issuing or managing these tokens must be licensed and comply with prudential, transparency and compliance rules. In addition, the BCB, CVM and SUSEP regulatory sandboxes allow for testing innovations in tokenization and DeFi, with oversight by the corresponding financial authorities.
The digital real pilot(CBDC) is also driving the evolution of tokenization in Brazil. Although there is not yet a special regime for DLT infrastructures, Brazilian legislation offers legal certainty to develop tokenization projects in a regulated environment, making Brazil an emerging market for tokenized assets in Latin America.
Regulatory agencies and authorities for digital assets in Brazil
Central Bank of Brazil (BCB)
The BCB is the main supervisory authority of PSAVs, according to Law No. 14.478/2022. It regulates the activities of intermediation, custody and trading of cryptoassets that are not considered securities. In addition, it leads the development of the Brazilian CBDC (digital real) and establishes the prudential, cybersecurity and governance rules for authorized PSAVs.
Securities and Exchange Commission (CVM Brazil)
The CVM supervises tokens that have the nature of marketable securities. It regulates their issuance, public offering and trading, applying the Securities Market Law. Issuers and trading platforms of security tokens must obtain authorization from the CVM and comply with the requirements of transparency, investor protection and good corporate governance.
Financial Activities Control Board (COAF)
COAF is Brazil’s financial intelligence unit, attached to the Ministry of Finance. It oversees compliance with anti-money laundering and anti-terrorist financing (AML/CFT) regulations by PSAVs and token issuers. It receives suspicious activity reports, analyzes operations and issues guidelines to strengthen controls in the virtual asset ecosystem.
Launching a business based on digital assets requires more than just technology: it is also necessary to comply with legal requirements such as licensing, registration and regulatory obligations. These conditions ensure that the business model is viable and sustainable over time, and that it meets transparency and fraud prevention standards. In this section we explore what licenses are usually required and what compliance criteria blockchain companies operating in Brazil must follow.
What licenses and requirements are needed to trade cryptoassets in Brazil?
PSAV Brazil License
As of February 2, 2026, PSAVs in Brazil that offer brokerage, custody or trading services for virtual assets must obtain prior authorization from the Central Bank of Brazil pursuant to BCB Resolution No. 519. PSAVs already in operation have 270 days from that date to apply for formal authorization. As of October 30, 2026, institutions authorized by the BCB will be prohibited from operating with PSAVs not authorized or not in the process of authorization in Brazil. This license requires compliance with governance standards, prudential requirements, operational controls, cybersecurity plans and user protection, in line with international standards.
CVM authorization for securities tokens
Issuers of tokens that qualify as securities, as well as secondary trading platforms for such tokens, must obtain authorization from the CVM. It is mandatory to comply with the requirements of public offering, registration with the Commission and investor protection rules provided for in the Securities Market Law.
AML/CFT compliance
All regulated players in the crypto ecosystem must implement robust anti-money laundering and terrorist financing prevention controls. These include KYC procedures, monitoring of operations, identification of beneficial owners and reporting suspicious activity to COAF. Compliance with these obligations is indispensable to operate legally in Brazil.
Are you exploring developing your blockchain project in Brazil?
At Metlabs we help companies like yours and offer comprehensive support in the development of blockchain projects and tokenization of assets such as real estate, carbon credits, commodities, intellectual property, financial instruments, franchises and more, fully aligned with blockchain regulation in Brazil and international regulatory standards.
Contact us and find out how we can help you meeting all your business model needs, from technical validation and structuring to design, development and implementation of custom blockchain solutions, ready to scale from day one.