In recent days, the Central Bank has published new resolutions that expand the regulatory perimeter applicable to the crypto sector in Brazil.
Our partner Tiago Severo Gomes was featured in a Valor Econômico article on the impact of the new regulation on companies in the sector.
BCB Resolutions No. 552 and No. 553 bring crypto companies closer to the same set of rules that applies to financial institutions and payment institutions.
In practice, this means that virtual asset service providers (VASPs) become subject to relevant governance and control rules, including:
- ombudsman * compliance * cybersecurity * internal audit * internal controls * customer relations * executive compensation policy
In addition, BCB Resolution No. 553 requires these companies to adopt accounting standards aligned with Cosif, with financial statements structured according to Central Bank criteria and subject to independent audit.
As Tiago Severo said in the Valor article: “O mercado de ativos virtuais está sendo progressivamente incorporado à arquitetura regulatória do sistema financeiro.” [The virtual asset market is being progressively incorporated into the regulatory architecture of the financial system.]
The institutionalization of the crypto sector in Brazil continues to advance, with significant impacts on the governance, accounting and supervision of companies operating in this market.
In the carousel, we highlight the main points of the new resolutions.
Link to the Valor Econômico article: https://lnkd.in/dbwx7VPn
