> 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/2.-central-bank/2.5.-bcb-resolution-no.-520-2025.md).
# 2.5. BCB Resolution No. 520/2025
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
The [Resolution](https://www.bcb.gov.br/estabilidadefinanceira/exibenormativo?tipo=Resolução%20BCB\&numero=520), of November 10, 2025 (Official Gazette of 11/11/2025), regulates Law No. 14,478/2022 with regard to the constitution and operation of virtual asset service provider companies (SPSAVs). It was amended by [BCB Resolution No. 589/2026](https://www.bcb.gov.br/estabilidadefinanceira/exibenormativo?tipo=Resolução%20BCB\&numero=589).
## Definitions:
* Virtual asset service provider companies: institutions authorized to operate by the Central Bank of Brazil that carry out, on behalf of third parties, virtual asset services, classified in the modalities intermediary, custodian, and broker of virtual assets (art. 4). The intermediary and custodian modalities may not combine activities of other modalities (art. 4, § 2).
* Other authorized institutions: commercial, foreign exchange, investment, multiple banks and the Federal Savings Bank, as well as securities brokers and dealers and foreign exchange brokers, may also provide intermediation and custody services for virtual assets; foreign exchange brokers, as a rule, only in the intermediation modality (art. 20).
## Obligations:
* Companies that were already providing virtual asset services on the effective date must request authorization within a maximum period of 270 days counted from that date (art. 88, I). BCB Normative Instruction No. 704/2026 sets October 30, 2026 as the date for filing phase 1 of the request (art. 9).
* Upon filing, they must prove risk management structure, cybersecurity policy, anti-money laundering controls, procedures for compliance with Law No. 13,810/2019, and observance of accounting regulations (Cosif) (art. 88, II).
* From the filing onward, they must send the Central Bank customer information to the CCS, accounting balances held on behalf of customers, custody positions, proof of reserves, and the total allocated to staking operations (art. 88, III, as amended by BCB Resolution No. 589/2026).
* Institutions already authorized that intend to provide intermediation and custody services may only begin these activities 90 days after formal communication to the Central Bank, accompanied by technical certification (art. 21).
* The rules for transmitting information in virtual asset transfers (art. 44) are implemented in two stages and become mandatory for all authorized SPSAVs as of February 2, 2028 (art. 89).
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The company that files the request within the deadline may continue providing the services until the process is concluded, but may not take on another modality (art. 88, § 6). The company that does not file within the deadline must cease providing services within 30 days after the end of the deadline (art. 88, § 7).
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As of November 6, 2026, financial institutions, payment institutions, and other institutions authorized by the Central Bank may not carry out or facilitate operations in the virtual asset market whose counterparties are virtual asset service provider entities not authorized to operate in the country, except in the forms expressly authorized in the Resolution (art. 91, as amended by BCB Resolution No. 589/2026).
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The Resolution entered into force on February 2, 2026 (art. 92). BCB Resolution No. 589/2026 has been in force since 10/1/2026 with respect to art. 91 and as of 1/1/2027 with respect to the other provisions.
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*Updated on 28/10/2026.*