In recent days, the Central Bank of Brazil has published new resolutions that expand the regulatory perimeter applicable to the crypto sector in Brazil.
Our Partner Tiago Severo Gomes was featured in an article in Valor Econômico on the impacts of the new regulation for companies in the sector.
BCB Resolutions No. 552 and No. 553 bring crypto companies closer to the same set of rules applicable to financial institutions and payment institutions.
In practice, this means that virtual asset service providers (VASPs) are now subject to relevant governance and control rules, including:
- ombudsman
- compliance
- cybersecurity
- internal audit
- internal controls
- customer relations
- officer compensation policy
In addition, BCB Resolution No. 553 now 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 noted in the Valor article: "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.
Read the full article in Valor Econômico.
