Cryptocurrencies in Brazil after June 20, 2023?

Law No. 14,478 was approved in December 2022, which regulates part of the cryptocurrency sector in Brazil, comes into force on June 20, 2023.

Brazil's new regulation of cryptocurrencies is an important step for the development and security of this market in the country. The Cryptocurrency Law was approved on December 21, 2022 and published in the Official Gazette of the Union on December 22 of 2022. This law establishes that virtual asset service providers (VASP) will only be able to operate in Brazil with prior authorization from the regulator, which will be the BRB. Some experts point out that the regulation will boost the growth of cryptocurrencies and tokenization in Brazil, as well as attract more actors and investments to the sector.