Brazil Appoints Central Bank and Securities Commission as Crypto Market Regulators

The executive branch issued a decree with directives following the approval of a crypto law in December 2022.

AccessTimeIconJun 14, 2023 at 8:40 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Brazil’s executive branch has designated the country’s Central Bank and its Securities Commission as responsible for overseeing the crypto market, according to a decree published on Wednesday.

The Securities Commission will exercise control over assets considered securities, while the Central Bank will determine the rules that exchanges must follow, including licensing requirements to operate, the decree detailed, finance news outlet InfoMoney reported.

In December 2022, former Brazilian President Jair Bolsonaro approved a crypto regulation bill that was passed by Brazil’s Chamber of Deputies and the Senate. The law created a “virtual service provider” license and established a crime of fraud involving virtual assets, with a penalty of between four and six years in jail plus a fine.

Brazil has become a regional crypto hub, with a high adoption rate of stablecoins and a market in which major crypto companies and protocols such as Coinbase, Bitget and Metamask have opened operations.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Andrés Engler

Andrés Engler was a CoinDesk editor based in Argentina, where he covers the Latin American crypto ecosystem. He holds BTC and ETH.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.