Brazil crypto market shifts as Central Bank updates reporting rules

The Central Bank of Brazil has issued Resolution BCB 591, extending the deadline for reporting certain cryptocurrency transfers to Coaf. Under the new rule, transfers of $10,000 or more between platforms and self-custody wallets, as well as cash foreign exchange transactions of the same value, must be reported in January 2027 for operations conducted between October and December 2026.

In a related market shift, Mercado Bitcoin has reached an agreement to acquire the retail clients of Bity. Bity, which manages over R$1 billion in assets and has approximately 850,000 users, will cease providing third-party crypto services such as BityBank and BityPayments. The company stated that maintaining a retail brokerage under new Central Bank regulations would require significant investment that it has chosen not to pursue, opting instead to focus on proprietary trading.