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Categoria: Regulatório

  • Online betting ban: new decision and the regulatory landscape

    Online betting ban: new decision and the regulatory landscape

    The regulatory landscape for digital betting platforms has undergone a drastic recent shift. The President of the Republic announced a ban on online betting platforms operating in Brazil.

    Context of the decision

    The government measure draws attention due to the timing of its announcement, taking place just nine days before the first round of the presidential election. When justifying the ban, the head of the Executive branch adopted a severe tone, comparing the social effects of online gambling to the crack epidemic.

    Impacts on legal certainty

    For foreign investors, digital platform founders, and industry executives, the most significant issue is regulatory instability. The current ban was established less than three years after the enactment of the Betting Law (Lei das Bets), which had created an initial framework for the operation of these companies in the country.

    Abrupt shifts in recent legislation directly affect market predictability. The rapid transition from a regulatory framework to a total ban requires companies to reassess their business models and operational strategies in the Brazilian market.

    Final considerations

    The sudden reversal in the rules governing betting platforms reinforces the need for rigorous and ongoing monitoring of the political and regulatory environment in Brazil, particularly for emerging digital sectors.

    This content is for informational purposes only and does not constitute legal advice. For guidance on specific matters, consult a qualified lawyer.

  • 禁止在线博彩：最新决定与监管格局

    禁止在线博彩：最新决定与监管格局

    在线博彩平台的监管环境近期发生了剧烈变化。巴西总统宣布禁止所谓的“bets”，即在巴西运营的在线博彩平台。

    决定背景

    政府此项措施因公布时间而备受关注，正值总统大选第一轮投票前仅九天。在解释禁令理由时，行政部门首脑措辞严厉，将在线博彩对社会的影响比作快克可卡因的流行危害。

    对法律确定性的影响

    对于外国投资者、数字平台创始人以及行业高管而言，最核心的问题是监管的不稳定性。当前的禁令是在所谓的《在线博彩法》（Lei das Bets）签署颁布不到三年后出台的，而该法律此前曾为这些企业在巴西的运营建立了初步框架。

    近期立法的急剧转变直接影响了市场的可预测性。从规范监管环境迅速转变为全面禁止的局面，促使相关企业重新评估其商业模式及在巴西市场的运营策略。

    结语

    博彩平台运营规则的剧变再次凸显了对巴西政治与监管环境进行严密、持续追踪的必要性，对于新兴数字行业尤为如此。

    本内容仅供参考，不构成法律意见。如需针对具体情况的指导，请咨询专业律师。

  • BC amplia regras para criptomoedas e carteiras próprias

    BC amplia regras para criptomoedas e carteiras próprias

    O Banco Central do Brasil (BC) anunciou a ampliação das regras de controle sobre as operações com ativos virtuais. A medida, que entra em vigor em 1º de outubro de 2026, tem como foco principal a prevenção à lavagem de dinheiro e ao financiamento do terrorismo, alinhando o mercado de criptomoedas a padrões mais rígidos de monitoramento financeiro.

    As novas diretrizes afetam diretamente as Prestadoras de Serviços de Ativos Virtuais (PSAVs) e os usuários que utilizam carteiras autocustodiadas, exigindo maior transparência nas transações de valores elevados.

    Comunicação obrigatória ao Coaf

    A principal mudança estabelecida pelo Banco Central refere-se à obrigatoriedade de comunicação ao Conselho de Controle de Atividades Financeiras (Coaf). A partir de outubro de 2026, transferências de criptomoedas de valor igual ou superior a US$ 10 mil, que sejam realizadas de ou para carteiras autocustodiadas, deverão ser reportadas automaticamente ao órgão.

    As carteiras autocustodiadas são aquelas em que o próprio usuário mantém o controle direto dos ativos e de suas chaves privadas, sem a necessidade de um intermediário ou corretora para a custódia dos recursos. Como esse formato oferece menos informações prontamente disponíveis para as autoridades, a nova exigência busca suprir essa lacuna de dados.

    O limite de US$ 10 mil funciona exclusivamente como um gatilho para a comunicação obrigatória. O Banco Central esclarece que esse valor não representa uma proibição ou um limite para a movimentação de criptomoedas. O papel do Coaf é receber e analisar essas informações para identificar possíveis padrões irregulares, ressaltando que o simples reporte de uma transação não a classifica como ilegal.

    Além dos ativos virtuais, a regra de comunicação automática ao Coaf também foi estendida para operações de câmbio em espécie que atinjam ou superem o mesmo patamar de US$ 10 mil.

    Novas exigências para as empresas do setor

    As empresas que atuam no mercado de ativos virtuais também enfrentarão novos prazos e obrigações regulatórias. As PSAVs que já estão em funcionamento terão até o dia 1º de outubro de 2026 para formalizar o seu pedido de autorização de funcionamento junto ao Banco Central.

    A regulamentação também prevê procedimentos rigorosos para o encerramento de relacionamentos comerciais com empresas que não possuam autorização ou que não estejam em processo de regularização. Adicionalmente, obrigações específicas relativas ao envio de dados para a supervisão do BC entrarão em vigor em 1º de janeiro de 2027.

    Essas medidas complementam as normas estabelecidas em novembro de 2025, que já definiam requisitos básicos para as empresas do setor, incluindo:

    • Proteção e transparência nas relações com os clientes;
    • Políticas de prevenção à lavagem de dinheiro;
    • Segurança e implementação de controles internos;
    • Avaliação do perfil de risco dos clientes antes da realização de operações complexas.

    Considerações práticas

    O conjunto de regras reflete o esforço das autoridades brasileiras para aumentar a quantidade e a qualidade das informações sobre o mercado de criptoativos. Para investidores e empresas, o cenário exige adequação tecnológica e procedimental para garantir o cumprimento das obrigações de reporte e transparência, mitigando riscos associados a operações com menor disponibilidade de dados.

    Este conteúdo tem caráter meramente informativo e não constitui aconselhamento jurídico. Para orientação sobre casos concretos, consulte um advogado.

  • 巴西央行扩大对加密货币及自托管钱包的监管规定

    巴西央行扩大对加密货币及自托管钱包的监管规定

    巴西中央银行（BC，Banco Central do Brasil）宣布扩大对虚拟资产交易的监管规则。该措施将于2026年10月1日生效，主要旨在预防洗钱和恐怖主义融资，使加密货币市场符合更严格的金融监测标准。

    新指引直接影响虚拟资产服务提供商（PSAV）以及使用自托管钱包的用户，要求对大额交易提高透明度。

    向Coaf进行强制通报

    巴西央行确立的主要变化涉及向Coaf（巴西金融活动控制委员会）的强制通报义务。自2026年10月起，进出自托管钱包且金额等于或超过1万美元的加密货币转账，必须自动向该机构进行报告。

    自托管钱包是指用户自身直接控制资产及其私钥的钱包形式，无需中间机构或交易所托管资金。由于此类形式向监管机构提供的主动可用信息较少，新规旨在弥补这一数据空白。

    1万美元的限额仅作为强制通报的触发门槛。巴西央行明确表示，该金额并不代表对加密货币交易的禁止或限制。Coaf的职责是接收并分析这些信息以识别潜在的违规模式，并强调单纯报告一笔交易并不意味着该交易属于违法行为。

    除虚拟资产外，向Coaf自动通报的规则也适用于达到或超过1万美元同等门槛的现金外汇交易。

    针对行业企业的新要求

    虚拟资产市场的从业企业也将面临新的监管期限和合规义务。已经开展业务的虚拟资产服务提供商（PSAV）须在2026年10月1日之前，向巴西央行正式提交运营许可申请。

    该法规还规定了终止与未获得许可或未处于规范化流程中的企业建立商业关系的严格程序。此外，向巴西央行监管部门报送数据的具体义务将于2027年1月1日生效。

    这些措施补充了2025年11月出台的规范，此前规范已确立了行业企业的基本要求，包括：

    • 客户关系中的保护与透明度；
    • 反洗钱政策；
    • 安全性与内部控制的实施；
    • 在开展复杂交易前对客户风险特征进行评估。

    实务考量

    这一系列规则反映了巴西监管当局在提升加密资产市场信息数量与质量方面的努力。对于投资者和企业而言，当前形势要求在技术和流程层面进行调整，以确保履行报告与透明度义务，降低与数据可用性较低的交易相关的风险。

    本内容仅供参考，不构成法律意见。如需针对具体情况的指导，请咨询专业律师。

  • Central Bank of Brazil Expands Rules on Cryptocurrencies and Self-Custody Wallets

    Central Bank of Brazil Expands Rules on Cryptocurrencies and Self-Custody Wallets

    The Central Bank of Brazil (BC) announced an expansion of regulatory oversight regarding virtual asset transactions. The measure, which takes effect on October 1, 2026, primarily targets anti-money laundering and combating the financing of terrorism, aligning the cryptocurrency market with stricter financial monitoring standards.

    The new guidelines directly impact Virtual Asset Service Providers (VASPs) and users who rely on self-custody wallets, demanding greater transparency in high-value transactions.

    Mandatory Reporting to Coaf

    The primary change introduced by the Central Bank concerns mandatory notifications to Coaf (Brazil’s Council for Financial Activities Control). Starting in October 2026, cryptocurrency transfers equal to or exceeding US$ 10,000 conducted to or from self-custody wallets must be automatically reported to the agency.

    Self-custody wallets are those in which the user retains direct control over the assets and private keys, without requiring an intermediary or exchange to custody the funds. Because this setup provides less readily available data to regulatory authorities, the new requirement seeks to bridge this information gap.

    The US$ 10,000 threshold operates exclusively as a trigger for mandatory reporting. The Central Bank clarifies that this amount does not represent a cap or prohibition on cryptocurrency movements. Coaf’s mandate is to receive and assess this data to detect potential irregular patterns, underscoring that reporting a transaction does not classify it as unlawful.

    Beyond virtual assets, the automatic reporting requirement to Coaf was also extended to physical cash foreign exchange operations reaching or exceeding the same US$ 10,000 threshold.

    New Requirements for Market Participants

    Companies operating within the virtual asset market will also encounter new regulatory deadlines and requirements. Operating VASPs will have until October 1, 2026, to formally submit their authorization requests to the Central Bank.

    The regulation also establishes strict procedures for winding down commercial relationships with entities that lack authorization or are not undergoing regularization. Furthermore, specific data submission requirements for Central Bank supervision will take effect on January 1, 2027.

    These rules complement the framework established in November 2025, which set baseline requirements for market participants, including:

    • Client protection and transparency in customer relations;
    • Anti-money laundering policies;
    • Security protocols and implementation of internal controls;
    • Customer risk profiling prior to executing complex operations.

    Practical Considerations

    This regulatory package reflects the Brazilian authorities’ efforts to enhance the volume and quality of data across the cryptoasset market. For investors and businesses, the current landscape requires technological and procedural adjustments to secure compliance with reporting and transparency mandates, mitigating risks linked to operations with limited data availability.

    This content is for informational purposes only and does not constitute legal advice. For guidance on specific matters, consult a qualified lawyer.

  • Opportunities in BaaS for Virtual Assets in Brazil

    The Evolution of the Digital Economy in Brazil

    The Brazilian financial market is undergoing a transformation as traditional financial institutions draw closer to the digital economy. At the core of this change are the new rules applicable to Banking as a Service (BaaS) and Virtual Asset Service Providers (VASPs, or PSAVs in Brazil).

    Partnerships Between Banks and Crypto

    The primary opportunity created by the new guidelines is opening space for strategic partnerships. The BaaS model allows companies to integrate financial services into their platforms. Under the recent rules, virtual asset service providers gain greater clarity to structure joint operations with banks.

    This integration has the potential to benefit the financial ecosystem: banking institutions can participate in the cryptoasset market, while crypto companies gain access to the infrastructure of the traditional banking system. For investors and technology founders, monitoring this dynamic is an important step toward exploring the sector in Brazil.

    This content is for informational purposes only and does not constitute legal advice. For guidance on specific matters, consult a qualified lawyer.

  • 巴西虚拟资产银行即服务（BaaS）领域的机遇

    巴西数字经济的演进

    随着传统金融机构与数字经济的深度融合，巴西金融市场正经历深刻变革。这一变化的核心在于适用于Banking as a Service（BaaS，银行即服务）以及虚拟资产服务提供商（PSAV）的新规。

    银行与加密企业的合作

    新监管指引带来的主要机遇在于为战略合作开辟了空间。BaaS模式允许企业将其平台与金融服务进行集成。根据最新规定，虚拟资产服务提供商在与银行构建联合业务架构时获得了更高的确定性。

    这种融合有望使整个金融生态系统受益：银行业机构能够参与加密资产市场，而加密企业则可接入传统银行体系的基础设施。对于投资者和科技企业的创立者而言，关注这一动态是探索巴西相关行业的重要一步。

    本内容仅供参考，不构成法律意见。如需针对具体情况的指导，请咨询专业律师。

  • Oportunidades em BaaS para Ativos Virtuais no Brasil

    A Evolução da Economia Digital no Brasil

    O mercado financeiro brasileiro vivencia um momento de transformação com a aproximação entre as instituições financeiras tradicionais e a economia digital. O centro dessa mudança está nas novas regras aplicáveis ao Banking as a Service (BaaS) e aos Provedores de Serviços de Ativos Virtuais (PSAVs).

    Parcerias entre Bancos e Cripto

    A principal oportunidade gerada pelas novas diretrizes é a abertura de espaço para parcerias estratégicas. O modelo de BaaS permite que empresas integrem serviços financeiros às suas plataformas. Com as regras recentes, os provedores de serviços de ativos virtuais ganham maior clareza para estruturar operações conjuntas com os bancos.

    Essa integração tem o potencial de beneficiar o ecossistema financeiro: as instituições bancárias conseguem participar do mercado de criptoativos, enquanto as empresas de cripto acessam a infraestrutura do sistema bancário tradicional. Para investidores e fundadores de empresas de tecnologia, observar essa dinâmica é um passo importante para explorar o setor no Brasil.

    Este conteúdo tem caráter meramente informativo e não constitui aconselhamento jurídico. Para orientação sobre casos concretos, consulte um advogado.

  • Betting: regulation reduces illegal market as advertising remains a challenge

    Betting: regulation reduces illegal market as advertising remains a challenge

    The regulation of the betting market in Brazil is beginning to show its first practical impacts. Recent data indicates a retreat in the illegal market, although the sector still faces significant obstacles to reach the maturity level of other jurisdictions.

    The initial impact of regulation

    With the progress of sector regulations, the illegal betting market recorded a decline. Previously estimated at 46% of all bets, this figure retreated to around 44%.

    This reduction, although initial, signals the market’s transition toward a more controlled environment. For investors and industry executives, gradual formalization represents a step toward greater operational predictability.

    Advertising and the gap with the European market

    Despite the decrease in irregular operations, advertising remains one of the primary challenges for betting companies in the country. Marketing and communications within the sector demand ongoing attention to developing guidelines.

    In this context, Brazil is still distant from European countries. European markets have more mature regulatory frameworks, offering clearer benchmarks for advertising practices and the oversight of irregular conduct.

    Corporate outlook

    The transition from an unregulated market to a formal environment requires ongoing corporate adaptation, especially regarding communication strategies. Aligning advertising campaigns with new regulatory standards will be key to structuring sustainable operations in the Brazilian market.

    This content is for informational purposes only and does not constitute legal advice. For guidance on specific matters, consult a qualified lawyer.

  • 博彩业：监管缩减非法市场规模，广告合规仍是主要挑战

    博彩业：监管缩减非法市场规模，广告合规仍是主要挑战

    巴西博彩市场的监管正在初显成效。最新数据显示非法市场出现收缩，尽管该行业要达到其他司法管辖区的成熟度仍面临显著障碍。

    监管的初步成效

    随着行业法规的推进，非法博彩市场出现了下降趋势。该比例由此前预计占博彩总额的46%回落至44%左右。

    这一降幅虽处于起步阶段，但标志着市场正向更受监管的环境过渡。对于投资者和行业高管而言，逐步的正规化意味着业务运营将具备更高的可预测性。

    广告营销与欧洲市场的差距

    尽管违规运营有所减少，但广告营销依然是该国博彩企业面临的主要挑战之一。该领域的传播与营销需要持续关注不断完善的监管指引。

    在此背景下，巴西与欧洲国家之间仍存在一定差距。欧洲市场拥有更加成熟的监管体系，为广告活动的开展和违规行为的管控提供了更为明确的标准。

    企业发展展望

    从无序市场向合规环境的过渡要求企业持续进行调整，尤其是在传播策略层面。使广告宣传符合新的监管标准，将是企业在巴西市场实现稳健可持续运营的核心要素。

    本内容仅供参考，不构成法律意见。如需针对具体情况的指导，请咨询专业律师。