Brazil is streamlining the process for banking institutions and brokers entering the cryptocurrency industry.

The Central Bank of Brazil recently issued IN 701/2026, a set of rules for banking institutions and brokers offering crypto-related services, establishing new compliance requirements.

Before operating, these institutions will have to enlist the services of an independent, qualified company to certify that they comply with the rules issued by the bank for virtual assets service providers (VASPs).

These independent companies must certify that the institutions segregate assets, meaning that user funds cannot mingle with the company’s own resources, and provide proof of reserves for all the digital assets owned by customers and the company.

For Isac Costa, professor and director of the Brazilian Institute of Technology and Innovation (IBIT), this means banks can operate without completing the whole authorization process for common VASPs as long as they obtain certification.

“That is, institutions can start services after 90 days of communication to the Central Bank, as long as it is accompanied by independent technical certification that proves full compliance with regulatory requirements,” he told Valor Económico.

While the rules do not specify which companies will be tasked with certifying institutions, Costa believes this responsibility will fall on auditors with experience in the cryptocurrency business.

He assesses that “large global auditing firms with practice in cryptoassets, consultancies specializing in blockchain system security and custody controls, and regulatory consulting firms with verified technical capacity in the segment” will fulfill this role.

Nonetheless, it is expected that the central bank will issue clarification on this issue, as these auditors will be relevant in onboarding banking institutions to the crypto industry.

Read more: Brazilian Crypto Industry to Sue if Government Pursues Stablecoin Taxation

• What recent regulatory changes has Brazil made for cryptocurrency services? The Central Bank of Brazil issued IN 701/2026, streamlining the compliance process for banking institutions and brokers entering the cryptocurrency market.

• What requirements must institutions meet to operate in the crypto space? Institutions must engage an independent, qualified company to certify compliance with regulations, including segregation of user funds from company assets and proof of reserves.

• How quickly can banks begin offering cryptocurrency services under the new rules? Banks can start services 90 days after notifying the Central Bank and obtaining the necessary independent technical certification.

• Who is likely to perform the certifications required by the Central Bank? Certification tasks will likely fall to experienced auditors, including large global firms, consultancies specializing in blockchain security, and regulatory consulting firms with relevant technical expertise.

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