> For the complete documentation index, see [llms.txt](https://www.opensourcelaw.com.br/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.opensourcelaw.com.br/en/regulation.md). # Regulation - [1. CVM](https://www.opensourcelaw.com.br/en/regulation/1.-cvm.md): Securities and Exchange Commission - [1.1. CVM Guidance Opinion No. 40/2022](https://www.opensourcelaw.com.br/en/regulation/1.-cvm/1.1.-cvm-guidance-opinion-no.-40-2022.md): Provides for cryptoassets and the securities market. - [1.2. CVM Resolution No. 80/2022](https://www.opensourcelaw.com.br/en/regulation/1.-cvm/1.2.-cvm-resolution-no.-80-2022.md): Provides for registration and the periodic and occasional provision of information by securities issuers. - [1.3. CVM Resolution No. 88/2022](https://www.opensourcelaw.com.br/en/regulation/1.-cvm/1.3.-cvm-resolution-no.-88-2022.md): Provides for exemption from registration through an electronic participatory investment platform. - [1.4. Circular Letter No. 4/2023/CVM/SSE](https://www.opensourcelaw.com.br/en/regulation/1.-cvm/1.4.-circular-letter-no.-4-2023-cvm-sse.md): Characterization of receivables tokens or fixed-income tokens as securities. - [1.5. Circular Letter No. 6/2023/CVM/SSE](https://www.opensourcelaw.com.br/en/regulation/1.-cvm/1.5.-circular-letter-no.-6-2023-cvm-sse.md): Guidance on receivables tokens and fixed-income tokens. - [2. Central Bank](https://www.opensourcelaw.com.br/en/regulation/2.-central-bank.md) - [2.1. Notice No. 40,874/2023](https://www.opensourcelaw.com.br/en/regulation/2.-central-bank/2.1.-notice-no.-40-874-2023.md): Announces conditions and deadlines for compliance. - [2.2. Notice No. 31,379/2017](https://www.opensourcelaw.com.br/en/regulation/2.-central-bank/2.2.-notice-no.-31-379-2017.md): Warning about cryptocurrencies. - [2.3. Circular No. 3,682/2013](https://www.opensourcelaw.com.br/en/regulation/2.-central-bank/2.3.-circular-no.-3-682-2013.md): Establishes the criteria under which payment arrangements will not be part of the Brazilian Payment System. - [2.4. BCB Resolution No. 519/2025](https://www.opensourcelaw.com.br/en/regulation/2.-central-bank/2.4.-bcb-resolution-no.-519-2025.md): Regulates the authorization processes related to the operation of foreign exchange brokerage firms, securities brokerage and distribution firms, and companies p - [2.5. BCB Resolution No. 520/2025](https://www.opensourcelaw.com.br/en/regulation/2.-central-bank/2.5.-bcb-resolution-no.-520-2025.md): Regulates the establishment and operation of virtual asset service providers and the provision of virtual asset services by other institutions authorized to operate by the - [2.6. BCB Resolution No. 521/2025](https://www.opensourcelaw.com.br/en/regulation/2.-central-bank/2.6.-bcb-resolution-no.-521-2025.md): Amends BCB Resolutions No. 277, 278 and 279/2022 to include the provision of virtual asset services in the foreign exchange market and in international capital rules. - [2.7. BCB Normative Instruction No. 693/2025](https://www.opensourcelaw.com.br/en/regulation/2.-central-bank/2.7.-instrucao-normativa-bcb-no-693-2025.md): Establishes the procedures for submitting to the Central Bank of Brazil information relating to the provision of virtual asset services in the foreign exchange market addressed by BCB Resolution No. 521/2025. - [2.8. BCB Normative Instruction No. 701/2026](https://www.opensourcelaw.com.br/en/regulation/2.-central-bank/2.8.-bcb-normative-instruction-no.-701-2026.md): Establishes the form of communication and the minimum requirements of the technical certification accompanying the notice of intent to provide virtual asset services, as provided for in BCB Resolution No. 520/2 - [2.9. BCB Normative Instruction No. 704/2026](https://www.opensourcelaw.com.br/en/regulation/2.-central-bank/2.9.-bcb-normative-instruction-no.-704-2026.md): Discloses procedures, documents, deadlines and information required to process authorization requests from foreign exchange brokers, CTVMs, DTVMs and virtual asset service providers - [2.10. BCB Normative Instruction No. 713/2026](https://www.opensourcelaw.com.br/en/regulation/2.-central-bank/2.10.-bcb-normative-instruction-no.-713-2026.md): Establishes the procedures for submitting the information referred to in art. 88, III, "b" to "e", of BCB Resolution No. 520/2025. - [2.11. BCB Normative Instruction No. 736/2026](https://www.opensourcelaw.com.br/en/regulation/2.-central-bank/2.11.-bcb-normative-instruction-no.-736-2026.md): Amends BCB Normative Instruction No. 693/2025. - [2.12. BCB Normative Instruction No. 739/2026](https://www.opensourcelaw.com.br/en/regulation/2.-central-bank/2.12.-bcb-normative-instruction-no.-739-2026.md): Amends BCB Normative Instruction No. 704/2026. - [2.13. BCB Normative Instruction No. 756/2026](https://www.opensourcelaw.com.br/en/regulation/2.-central-bank/2.13.-bcb-normative-instruction-no.-756-2026.md): Amends BCB Normative Instruction No. 693/2025. - [3. Federal Revenue Service](https://www.opensourcelaw.com.br/en/regulation/3.-federal-revenue-service.md) - [3.1. Normative Instruction RFB No. 1,888/2019 (revoked)](https://www.opensourcelaw.com.br/en/regulation/3.-federal-revenue-service/3.1.-instrucao-normativa-rfb-no-1.888-2019.md): Established and regulated the obligation to provide information regarding transactions carried out with cryptoassets to the RFB. Repealed. - [3.2. COSIT Consultation Solution No. 218/2023](https://www.opensourcelaw.com.br/en/regulation/3.-federal-revenue-service/3.2.-cosit-consultation-solution-no.-218-2023.md): Ancillary obligations for exchanges. - [3.3. Question No. 457 (IRPF 2023 Questions and Answers)](https://www.opensourcelaw.com.br/en/regulation/3.-federal-revenue-service/3.3.-questao-no-457-perguntas-e-respostas-irpf-2023.md): How should cryptoassets be declared? - [3.4. Question No. 620 (IRPF 2023 Questions and Answers)](https://www.opensourcelaw.com.br/en/regulation/3.-federal-revenue-service/3.4.-questao-no-620-perguntas-e-respostas-irpf-2023.md): Are gains obtained from the disposal of cryptoassets taxed? - [3.5. RFB Normative Instruction No. 2,291/2025 (DeCripto)](https://www.opensourcelaw.com.br/en/regulation/3.-federal-revenue-service/3.5.-instrucao-normativa-rfb-no-2.291-2025-decripto.md): Provides for the mandatory submission of information relating to transactions carried out with cryptoassets to the Special Secretariat of the Federal Revenue of Brazil (DeCripto). - [3.6. Question No. 473 (IRPF 2026 Questions and Answers)](https://www.opensourcelaw.com.br/en/regulation/3.-federal-revenue-service/3.6.-question-no.-473-irpf-2026-questions-and-answers.md): How should cryptoassets be declared? - [3.7. Question No. 653 (IRPF 2026 Questions and Answers)](https://www.opensourcelaw.com.br/en/regulation/3.-federal-revenue-service/3.7.-question-no.-653-irpf-2026-questions-and-answers.md): Are gains obtained from the disposal of cryptoassets taxed?