Brazil recorded $252.5 billion in crypto activity between July 2025 and June 2026, making it the world’s leading country according to Chainalysis. Platforms that apply on time can continue operating while regulators review their applications, a process that can take up to two years, while new entrants must obtain authorization before launching regulated services. Providers that miss the deadline must cease operations within 30 days, and banks and payment institutions will face restrictions on transactions with unauthorized platforms from November 6. The new rules require verification of the origin and destination of transfers, including those involving self-custodial wallets, as well as a $100,000 cap on certain international transfers, although several implementation questions remain unresolved. Capital requirements of up to 37.2 million reais could make compliance unviable for smaller platforms and increase market concentration.
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