> 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/2.6.-bcb-resolution-no.-521-2025.md).

# 2.6. BCB Resolution No. 521/2025

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.

The [Resolution](https://www.bcb.gov.br/estabilidadefinanceira/exibenormativo?tipo=Resolução%20BCB\&numero=521), of November 10, 2025 (Official Gazette of 11/11/2025), amends BCB Resolutions No. 277, 278 and 279/2022, which regulate Law No. 14,286/2021, to regulate art. 7, V, of Law No. 14,478/2022.

## Definitions:

It now becomes part of the <mark style="background-color:purple;">foreign exchange market</mark> the provision of virtual asset services that includes (BCB Res. No. 277/2022, art. 76-A):

* international payment or transfer with virtual assets;
* transfer of a virtual asset to or from a provider's customer to fulfill an obligation arising from the international use of a card or another electronic payment method;
* transfer of a virtual asset to or from a self-custodied wallet that does not involve an international payment or transfer; and
* purchase, sale, or exchange of virtual assets denominated in fiat currency.

## Obligations:

* Only institutions acting as virtual asset service providers may carry out these transactions (BCB Res. No. 277/2022, art. 29).
* International payment or transfer with virtual assets, when the counterparty is not an institution authorized to operate in the foreign exchange market, is limited to the equivalent of <mark style="background-color:purple;">US$ 100,000.00</mark> for SPSAVs and to US$ 500,000.00 for the institutions referred to in art. 29, II (BCB Res. No. 277/2022, art. 29).
* SPSAVs already in operation may continue carrying out these transactions provided they comply with the deadlines and conditions for the authorization request, which must include the request to operate in the foreign exchange market (BCB Res. No. 277/2022, art. 29, § 5).
* The submission of information to the Central Bank follows the [BCB Normative Instruction No. 693/2025](/en/regulation/2.-central-bank/2.7.-instrucao-normativa-bcb-no-693-2025.md).

{% hint style="info" %}
The Resolution entered into force on February 2, 2026, except for arts. 76-C and 82-A of BCB Res. No. 277/2022 and arts. 2 to 4, which have been in force since May 4, 2026 (art. 6).
{% endhint %}

*Updated on 28/10/2026.*