Brazil’s central bank has set a sharply higher minimum capital requirement for virtual asset service providers, or VASPs, in its final rulebook. The threshold now ranges from about 10.8 million to 37.2 million reais, depending on business scope and risk, equivalent to roughly $2.11 million to $7.2 million. That is well above the 1 million to 3 million reais range proposed in the public consultation draft, or about $195,000 to $586,000.
The final framework also adds requirements covering governance, internal controls, anti-money laundering measures, audits, and ongoing reporting. Industry estimates cited in the report put the current number of related companies in Brazil at around 150 to 300. Of those, only about 20 to 25 are seen as either capable of meeting the standards or willing to apply. The report says the number that may ultimately secure a license could be closer to 10.
Some smaller platforms have already shut down their retail businesses or restructured those operations as the higher compliance burden takes shape.
Brazil’s central bank has set the minimum capital requirement for virtual asset service providers, or VASPs, at about 10.8 million to 37.2 million reais in its final rules, with the threshold determined by business scope and risk. That works out to roughly $2.11 million to $7.2 million.
The range is far above the 1 million to 3 million reais level outlined in the consultation draft, or about $195,000 to $586,000.
The final framework also layers on requirements for governance, internal controls, anti-money laundering, audits, and ongoing reporting.
Industry estimates put the number of existing related companies at around 150 to 300. Of those, about 20 to 25 are considered able or willing to apply, while the number that may ultimately obtain a license could be about 10. Some smaller platforms have already ended their retail operations or reorganized those businesses.
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