Crypto exchanges in Brazil must submit license applications by Friday if they want to keep operating while regulators review their cases, a process that could take as long as two years. Firms that miss the deadline will have 30 days from Friday to stop offering services. Starting Nov. 6, banks and payment institutions will also face restrictions, as they will be barred from conducting crypto transactions with unauthorized providers.
The rules stem from a crypto regulatory framework introduced by Banco Central do Brasil (BCB) in November 2025. The framework requires service providers to verify the origin and destination of crypto transfers, including transfers involving self-custodied wallets. It also sets a $100,000 cap on certain international crypto transfers when the counterparty is not authorized to operate in Brazil’s foreign exchange market.
Exchanges still have questions about wallet identification, how transfer limits should be interpreted, and the thresholds for transaction reporting. Fabio Cendão, founding partner at Brazilian law firm FCM Law, said filing an application is only the start of the process, which also includes capital requirements, technical certification, custody audits, and anti-money laundering controls. Depending on the services offered, minimum capital requirements range from 10.8 million to 37.2 million Brazilian reais.
Crypto exchanges in Brazil must file license applications by Friday if they want to continue operating while regulators review their cases, according to Cointelegraph. The review process could last as long as two years.
Companies that fail to apply on time will have 30 days from Friday to stop providing services. From Nov. 6, banks and payment institutions will also be restricted from carrying out crypto transactions with unauthorized service providers.
BCB framework adds transfer checks and cross-border limits
Banco Central do Brasil (BCB) introduced its crypto regulatory framework in November 2025. The rules require service providers to verify the origin and destination of crypto transfers, including transfers involving self-custodied wallets.
The framework also imposes a $100,000 cap on certain international crypto transfers when the counterparty is not authorized to operate in Brazil’s foreign exchange market. Exchanges still have unresolved questions over wallet identification, how the cap should be interpreted, and the thresholds for transaction reporting.
Law firm says filing is only the first step
Fabio Cendão, founding partner of Brazilian law firm FCM Law, said the application is only the starting point. Compliance also involves high capital requirements, technical certification, custody audits, and anti-money laundering controls.
Depending on the services provided, minimum capital requirements range from 10.8 million to 37.2 million Brazilian reais. Cendão said those costs could make compliance difficult for smaller exchanges.
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