Brazil’s National Monetary Council (CMN) and the Central Bank of Brazil (BCB) approved Resolution CMN No. 5,280 to apply the client and user confidentiality requirements in Complementary Law No. 105/2001 to virtual asset service providers. The measure is positioned as aligning regulatory treatment across financial intermediaries, strengthening governance expectations for these providers, and supporting the prevention and detection of illicit activity involving virtual assets, following their full integration into the BCB regulatory perimeter on 2 February 2026. The CMN and BCB also approved Resolution CMN No. 5,281 and BCB Resolution No. 550, setting criteria for the recognition, measurement and accounting disclosure of virtual assets by financial institutions and other BCB-authorised institutions. The rules cover virtual assets under Article 3 of Law No. 14,478/2022, including utility tokens used for payments or investment, but exclude assets that merely represent traditional assets or qualify as financial instruments, which remain subject to their existing accounting frameworks. The framework replaces the prior approach of treating virtual assets as other non-financial assets, was developed following Public Consultation Notice No. 122/2025, and will enter into force on 1 January 2027. Separately, the CMN approved the BCB’s financial statements for the year ended 31 December 2025, reporting a loss of BRL 119.97 billion, driven by a BRL 150.26 billion loss on reserve and foreign-exchange derivative operations and partially offset by a BRL 30.29 billion gain on other operations. The loss was covered by reversing the results reserve under Law No. 13,820/2019, with no transfer to or coverage by the National Treasury, leaving a results reserve balance of BRL 122.82 billion; the BCB attributed the outcome mainly to foreign-exchange valuation effects alongside an 11.14% depreciation of the US dollar in 2025. PwC audited the statements and confirmed they were appropriately prepared in line with international accounting standards.
Central Bank of Brazil 2026-02-26
Central Bank of Brazil and National Monetary Council extend bank secrecy duties to virtual asset service providers and issue accounting rules for virtual assets
Brazil’s National Monetary Council and Central Bank extended client confidentiality to virtual asset service providers and set accounting criteria for virtual assets. These measures aim to align regulations, enhance governance, and prevent illicit activities. The Central Bank reported a BRL 119.97 billion loss for 2025, mainly from foreign-exchange operations, with PwC confirming compliance with international standards.