Summary
Brazil's Central Bank Resolution 580/2026 (July 1) classifies VASPs as Type 3 entities — same as securities brokerages. Effective January 1, 2027, VASPs face prudential requirements including risk management rules, capital requirements, and information disclosure policies. VASPs are barred from Segment 5 (simplified regime) and must transition to Segment 4 by June 30, 2028. Minimum capital requirements range from R$10M-R$37M (~$2M-$7M) depending on activity. Industry expects consolidation from 150-200 applicants to ~50.
Key Points
- Resolution 580/2026: amends Resolutions 436/2024 and 201/2022
- Type 3 classification: same as securities brokerage, securities distribution, and FX brokerage firms
- Effective: January 1, 2027 (prudential requirements); Segment 4 by June 30, 2028
- Minimum capital: R$10M-R$37M depending on activity type
- Barred from Segment 5: simplified compliance regime for low-risk institutions
- Industry reaction: "doesn't make much sense in terms of 'same risk, same regulation'" — unnamed executive
- Expected consolidation: 150-200 potential applicants → ~50 actual applications
- License application deadline: late October 2026
- ABcripto (Brazilian Crypto Economy Association): some requirements "came out very different from consultations"
- Brazil's crypto market: stablecoins surged 2% on the news ("Samba Premium")