[REVISION HISTORY]

Brazil tightens Pix rules and advances Drex and crypto laws

31 recorded revisions of this situation.

What changed

2026-11-06 19:39 UTC → 2026-11-09 19:54 UTC · added ~~removed~~

Following a June 2026 breach of the Maranhão civil-police database, Brazil’s Central Bank has implemented a multi-stage regulatory overhaul to combat fraud in instant payments and cryptocurrency transactions. For the Pix system, new regulations (Instrução Normativa nº 766) began implementation in August 2026. Financial institutions must provide enhanced traceability data to identify “orange accounts” used by criminals. On 1 September 2026, the Special Refund Mechanism (MED) was expanded, extending the deadline for victims to contest fraudulent transactions from 30 to 80 days. On 3 September 2026, the Central Bank prohibited advertisements, commercial offers, or hyperlinks on Pix payment receipts to prevent scams via fraudulent links, a rule set to take effect on 1 March 2027. Regarding cryptocurrency, the Central Bank is launching a real-time threat alert system in partnership with blockchain security firm Hypernative, with integration expected in mid-September 2026. Regulatory measures include Resolution BCB nº 584, mandating a 24-hour hold on outbound transfers exceeding US$10,000 to foreign entities or self-custody wallets, effective 1 January 2027. Additionally, Resolution BCB No. 599/2026 introduced a new code (99516) to identify exchange operations related to virtual asset trades with foreign institutions, including stablecoins like USDT and USDC. As the October 30, 2026, deadline for Virtual Asset Service Providers (VASPs) passed, the ~~market has seen significant consolidation. While initial estimates suggested up to 200 firms might seek authorization, the~~ Central Bank ~~has~~ released a list of 120 entities ~~currently~~ under review, including ~~46 brokerage applicants and~~ 73 ~~intermediary applicants.~~ intermediaries and 46 brokerages. Major ~~players such as~~ applicants include Binance, Coinbase, OKX, Bybit, Kraken, Mercado Bitcoin, Foxbit, and ~~Foxbit have submitted applications. Large banks, including~~ Ripple. Leading banks such as Itaú Unibanco, Bradesco, Nubank, ~~and~~ Santander, Banco do Brasil, and BTG Pactual are also ~~included~~ involved in the ~~review~~ process. Recent filings include Banco Braza, which completed technical certification to integrate digital assets into its multi-currency accounts, and NoxPay, which applied to operate within the foreign exchange market using the Stellar network.

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