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Brazil crypto firms and Itaú Unibanco seek regulatory compliance
Major financial institutions and cryptocurrency exchanges are racing to meet a October 30 deadline set by the Central Bank of Brazil to formalize operations under new digital asset regulations.
Itaú Unibanco, Brazil’s largest private bank, became the first local bank to complete the notification process on October 27. The bank, which has offered cryptocurrency trading and custody since December 2023, currently provides access to 15 digital assets, including Bitcoin, Ethereum, and USDC. Under the new framework, Itaú follows a notification route reserved for already authorized financial institutions, rather than the full licensing process required for dedicated crypto firms.
Other major players are pursuing formal authorization. Binance submitted its application through its local entity, BBrasil Sociedade Prestadora de Serviços de Ativos Virtuais Ltda, on October 23. To align with current regulations, Binance has already restricted eight products and removed 22 tokens from its Brazilian service catalog.
Additionally, Ripio and Mercado Bitcoin filed for authorization as Virtual Asset Service Providers (PSAV) on October 27. The new regulatory package, including Resolution 520, mandates strict requirements such as asset segregation, individualized accounts, and independent technical certifications to ensure consumer protection and market transparency.
Entities
BBrasil · BBrasil Sociedade Prestadora de Serviços de Ativos Virtuais Ltda · Binance · Brazil · Central Bank of Brazil · Itaú Unibanco · Mercado Bitcoin · Ripio
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 5 SOURCES] Itaú Unibanco offers 15 digital assets, including Bitcoin, Ethereum, and USDC. crypto.news · ethnews.com · coindoo.com · ambcrypto.com
- [● 5 SOURCES] Itaú Unibanco notified the Central Bank of Brazil of its cryptocurrency trading and custody services on October 27. crypto.news · ethnews.com · coindoo.com · ambcrypto.com
- [● 2 SOURCES] Ripio filed for authorization with the Central Bank to become a virtual asset service provider. exame.com · livecoins.com.br
- [● 3 SOURCES] New regulations require asset segregation and maintenance of individualized accounts for crypto providers. www.letsmoney.com.br · www.territoriobitcoin.com · livecoins.com.br
- [● 5 SOURCES] Binance filed for a crypto service license in Brazil on October 23 via BBrasil Sociedade Prestadora de Serviços de Ativos Virtuais Ltda. www.letsmoney.com.br · coinpaper.com · www.cryptobreaking.com
- [● 3 SOURCES] Binance restricted eight products and removed 22 tokens from trading for Brazilian users. coinpaper.com · www.cryptobreaking.com
- [● 8 SOURCES] The deadline for existing crypto service providers to submit applications to the Central Bank is October 30. www.letsmoney.com.br · www.criptonoticias.com.br · crypto.news · www.cryptobreaking.com · exame.com · +2 more
- [● 2 SOURCES] Mercado Bitcoin filed for authorization to operate as a Virtual Asset Service Provider (PSAV) with the Central Bank. www.criptonoticias.com.br · livecoins.com.br