DASP license in Brazil
Last Update: 13.11.2025
Brazil is becoming one of the most promising markets for the cryptocurrency business, combining economic growth with the active implementation of legislative initiatives. The country’s authorities are seeking to integrate digital assets into the traditional financial system, making the jurisdiction attractive to investors. However, regulation of the crypto industry in Brazil continues to evolve, especially regarding banking crypto services and stablecoins. Gofaizen & Sherle experts will help you navigate the intricacies of local legislation and apply for a crypto license (DASP), providing comprehensive support at all stages of market entry.
In Brazil, virtual asset services (DASPs), including exchanges and wallets, are regulated by a rapidly changing legal framework. The main regulatory authority is the Central Bank of Brazil (BCB), which develops rules for virtual assets in accordance with Law No. 14,478/2022. Currently, companies operating in this area do not require special licenses, but they must comply with existing rules and future regulations, which are expected to be finalized in 2025.
The provisions that will implement the above-mentioned law have not yet been published. In this regard, the Central Bank of Brazil has published an official statement referring to “Anuncio No. 40.874” of June 11, 2023, which states that until the publication of the decree adopting the law, digital asset service providers will not be allowed to operate in Brazil without prior authorization from the Central Bank. According to Article 9 of Law No. 14,478/2022, once the provisions are finally approved, companies will be granted at least six months to adapt to the new requirements.
In parallel with the development of regulations, the Brazilian government has been actively promoting digital asset technologies and the introduction of cryptocurrencies into the economy in recent years. With the support of the BCB, the Financial and Technological Innovation Laboratory was created in 2018, and in 2021, a central bank digital currency (CBDC) project called Real Digital was launched. These steps have laid the foundation for building a modern financial infrastructure using digital assets.
Today, Brazil is firmly among the top ten countries in the world with the highest level of cryptocurrency adoption. In 2025, the number of users reached almost 32 million, which is about 14.6% of the country’s population. The popularity of cryptocurrencies continues to grow rapidly, and according to forecasts, by 2030, revenue in this sector will reach $353.5 million, with an expected average annual market growth rate of 16.5%. Already, more than 17.5% of Brazilians actively use digital assets, and the country is recognized as the fastest-growing crypto market in Latin America.
At the same time, the Brazilian government is actively developing support for cryptocurrency companies by offering tax incentives and educational programs. Small and medium-sized enterprises can take advantage of the simplified tax regime Simples Nacional, which combines several taxes into a single payment and reduces the administrative burden. In addition, companies engaged in innovative technologies can count on tax breaks on profits from the implementation of new developments.
Brazil also has educational and consulting programs, such as Blockchain Academy Brazil, which help entrepreneurs navigate the regulatory, tax, and technological aspects of cryptocurrency transactions. Government agencies and private organizations hold seminars, webinars, and consultations to promote transparency and sustainable development of the crypto industry.
Thus, obtaining a cryptocurrency license in Brazil opens up significant business opportunities. The country offers a stable legal environment, tax incentives, and access to government programs that support innovative companies. However, given the dynamic nature of regulation, it is important to stay abreast of changes in legislation and work with qualified legal advisors to successfully enter the market.
Advantages of a DASP license in Brazil
Market regulation
Brazilian law provides transparent and consistent rules for regulating the virtual asset market. The Brazilian Central Bank and the Securities and Exchange Commission (CVM) control the sector, reducing legal risks and simplifying the licensing process.
International recognition
The DASP license complies with FATF standards, making it easier to operate globally. Companies registered in Brazil can work with international financial institutions, open bank accounts, and collaborate with partners in the US, EU, and Asia.
Tax benefits
Companies with a DASP license can take advantage of special tax regimes such as Simples Nacional, which reduces the tax burden and simplifies accounting. Several states offer additional preferences, including reduced income taxes and VAT exemption.
Access to international markets
Brazil has free trade agreements with dozens of countries, allowing companies to operate without additional permits. The DASP license provides access to global capital markets and investment platforms.
Government support
Fintech companies can take advantage of preferential financing programs, educational initiatives, and advisory support. Public and private organizations offer training courses and webinars to help businesses adapt to changing requirements.
Request more information about the DASP license in Brazil
Service packages for obtaining a DASP license in Brazil
- Elaboration of POAs draft for the incorporation of the company and the obtainmnt of the TAX IDs of the shareholders.
- Elaboration of draft to the articles of incorporation.
- Tax IDs for shareholders.
- Issuance of the Incorporation deed and registration before the Board of Trade.
- Registration of the company before the Tax authority and obtain Tax ID.
- Company registration with the central bank of Brazil.
- Nominee service of directors for 6 months.
- Bank account opening.
- Elaboration of POAs draft for the incorporation of the company and the obtainmnt of the TAX IDs of the shareholders.
- Elaboration of draft to the articles of incorporation.
- Tax IDs for shareholders.
- Issuance of the Incorporation deed and registration before the Board of Trade.
- Registration of the company before the Tax authority and obtain Tax ID.
- Company registration with the central bank of Brazil.
- Nominee service of directors for 6 months.
- Elaboration of POAs draft for the incorporation of the company and the obtainmnt of the TAX IDs of the shareholders.
- Elaboration of draft to the articles of incorporation.
- Tax IDs for shareholders.
- Issuance of the Incorporation deed and registration before the Board of Trade.
- Registration of the company before the Tax authority and obtain Tax ID.
- Company registration with the central bank of Brazil.
Who needs a DASP license in Brazil?
To operate in the cryptocurrency sector in Brazil, companies are required to obtain a Digital Asset Service Provider (DASP) license, which is essentially a registration of a cryptocurrency company with the relevant government authorities. This license is required for legal entities that provide at least one of the following services:
- exchange of virtual assets for Brazilian or foreign currency;
- exchange between different types of virtual assets;
- transfer of digital assets between users;
- management and administration of cryptocurrency assets, including storage and provision of tools for control over them;
- provision of financial services related to the issuance or transfer of virtual assets.
Once the expected regulatory changes announced by the Brazilian government at the end of 2024 come into force, companies providing these services will require a specialized virtual asset service provider (VASP) license.
In November 2024, the BCB initiated three public consultations, 109, 110, and 111, which presented draft regulations governing the provision of services related to virtual assets. The documents cover issues such as the authorization of virtual asset service providers (VASPs), the conditions for their operation, and the possibility of integrating virtual asset services into the country’s currency market.
Although the final version of the regulatory documents has not yet been adopted, it is expected to be published by the end of 2025. They are expected to be based on the provisions proposed during the consultations, but will also take into account comments and suggestions from market participants received during the discussion process.
Requirements for a DASP license in Brazil
Currently, the requirements for obtaining a DASP (crypto license) in Brazil include:
Minimum company structure
At least one shareholder is required to obtain a license. This is a mandatory requirement for registering a company that will engage in cryptocurrency activities.
Detailed business plan and documentation
The applicant must provide a structured business plan describing the business model, target markets, operational processes, risk assessment, and risk management strategies. All documents issued outside Brazil must be notarized and translated into Portuguese by an accredited translator.
Minimum capital
Although Law No. 14478/2022 does not explicitly set a minimum authorized capital, in practice, companies must have sufficient financial resources. For crypto exchanges and companies engaged in the storage of crypto assets, this amount may exceed BRL 2 million (approximately USD 364,000), and for technology and consulting companies, it may range from BRL 1 million to BRL 1.5 million (USD 182,000 to USD 273,000). Brokers combining both functions will have to declare capital of at least 3 million reais (approximately USD 545,000).
Currently, the minimum authorized capital requirement is set at USD 500.
Appointment of a legal director and management
Each company that obtains a license is required to appoint a legal director. This person is responsible for compliance with legislation, interaction with regulatory authorities, and monitoring the company’s financial obligations and reporting. It is also necessary to provide information about key personnel (copies of passports, proof of residence, detailed resumes confirming qualifications). Additional professional certifications may be required.
Financial address in Brazil
Companies are required to register a legal address in Brazil. This confirms the company’s physical presence in the country and its compliance with local laws. Documents confirming the right to use the premises must be provided.
Transparency of regulation
Companies are required to disclose information about financial transactions and cryptocurrencies. Quarterly and annual reports must include information on income, losses, cash flows, internal audit results, and the internal control system. Companies are required to implement risk management mechanisms, especially with regard to the use of blockchain technology.
AML/KYC compliance
Cryptocurrency operators are required to comply with international AML and KYC standards. This includes customer identification, transaction monitoring, and timely reporting of suspicious activity to the Brazilian Securities and Exchange Commission (CVM) and the Financial Activities Control Council (COAF). Failure to comply with these regulations may result in fines, license revocation, or legal proceedings.
Cybersecurity and consumer protection
Under the new requirements, companies must implement strict measures to ensure the security of digital assets. This includes the use of cold storage solutions, the availability of compliance certificates, and regular technical and information audits. Particularly high standards are imposed on exchanges and asset custodians.
Reporting suspicious transactions
Firms are required to report any suspicious transactions to the Financial Activities Control Council (COAF) and the Brazilian Securities and Exchange Commission to prevent money laundering and other financial crimes.
Process for obtaining a BrazilDASP license
DASP registration in Brazil involves several steps:
Document preparation.
Step 1
The first stage involves collecting and preparing the necessary documents to prove that the company meets the requirements of Brazilian law. The package includes:
- shareholder information;
- legal directors.
- information on the Brazilian representative;
- company name;
- the company’s address in Brazil (we can provide it if necessary).
Documents issued abroad require apostilization. Financial statements, business plans, proof of management qualifications, and capital structure information are also required.
Obtaining tax identifiers.
Step 2
Shareholders and officers are required to obtain individual tax identifiers in Brazil (CPF). These are required for further company registration and regulatory filings.
Drafting and registration of constituent documents.
Step 3
At this stage, the company’s articles of incorporation are drafted and approved. The Articles of Association should include information on the types of activities, management structure, capital, and responsibilities of the participants. The document is registered with the Chamber of Commerce.
Company registration.
Step 4
The company is registered with the commercial register, the Federal Tax Service, the state tax authority, and the municipal government. After that, it is assigned a registration number (NIRE), which is required to obtain an e-CNPJ digital certificate.
Company registration with the Central Bank of Brazil.
Step 5
Registered companies are required to submit information to the Central Bank of Brazil (BACEN). This is necessary to comply with regulatory requirements including anti-money laundering (AML) and customer identification (KYC).
Once registered, the company is required to submit regular financial statements, comply with AML/KYC requirements, and update registration details when the business structure changes. The entire process of opening a cryptocurrency company in Brazil takes about 2 months.
Types of crypto licenses in Brazil
As of mid-2025, Brazil still lacks a separate, definitively approved category of “crypto license” in the usual international sense. However, companies providing services involving virtual assets (such as exchange, storage, and transfer) are required to register with the Central Bank of Brazil and comply with the provisions of Law No. 14,478/2022.
By the end of 2025, detailed licensing requirements are expected to be finalized, including the classification of service providers working with digital assets.
About Digital Asset Regulation in Brazil
Brazil is actively developing a legal framework for regulating the cryptocurrency market with the aim of creating a transparent and reliable environment for digital asset businesses.
The current regulatory framework is based on Law No. 14.478/2022, which places control over the cryptocurrency sector under the Central Bank of Brazil (Banco Central do Brasil) and the Securities and Exchange Commission(CVM). The Central Bank regulates financial aspects and compliance with standards, while the CVM oversees the legality of the use of digital assets in investment products.
In addition to government agencies, Brazil has a Brazilian Crypto Economy Association (ABCripto) that acts as a self-regulatory organization. Although membership in the association is not mandatory, compliance with its standards-such as the Self-Regulatory Code and the Anti-Money Laundering Guidelines—is considered a sign of responsible business conduct. As part of good practice, VASPs are also encouraged to voluntarily report suspicious transactions to COAF, even if they are not formally required to do so.
In December 2024, the Central Bank published a draft regulation setting out requirements for service providers working with virtual assets. This was an important step in establishing clear regulatory rules, which are still under development. The final version of the regulation is expected to be adopted by the end of 2025, after which the licensing process will begin.
Brazilian regulators are guided by international regulatory principles, including the recommendations of the FATF (Financial Action Task Force on Money Laundering). This will help companies licensed in Brazil to work with international banks and partners in the US, EU, and other countries.
In addition, the new rules will provide enhanced consumer protection. Companies will be required to provide customers with information about the risks associated with investing in digital assets, as well as ensure the cybersecurity of their platforms and the safety of user funds.
Legal framework for crypto businesses in Brazil
In Brazil, cryptocurrency regulation is based on a combination of international standards and domestic legislation. The FATF recommendations on AML/FT (anti-money laundering and counter-terrorist financing) served as the basis for the development of the rules. Brazil is actively adapting its domestic legislation to these standards.
The legislative framework for cryptocurrency activities in Brazil includes:
- Law No. 14,478 of December 21, 2022 (the “Virtual Assets Law,” BVAL).
As already mentioned, this is a key piece of legislation that marked the beginning of the formal legal regulation of cryptocurrencies in Brazil. The law came into force in June 2023 and became the basis for further regulatory activity.
The law introduces the concept of a virtual asset as a digital representation of value used for payment or investment purposes. It also defines VASPs (Virtual Asset Service Providers) as legal entities that provide services related to virtual assets and establishes a requirement for VASPs/DASPs to be registered and licensed with the Central Bank of Brazil. BVAL provides for criminal liability for fraudulent activities involving crypto assets, especially if they fall under anti-money laundering and organized crime legislation, and establishes general principles for the regulation of such services.
- Central Bank Circular No. 3978 of January 23, 2020.
The document regulates:
- AML/FT procedures;
- risk assessment system;
- KYC (know your customer), KYP (know your product), KYE (know your employee) practices;
- requirements for recording transactions and monitoring suspicious transactions;
- reporting to COAF;
- internal control and audit mechanisms.
Although it was adopted before the BVAL came into force, it remains applicable to financial institutions and cryptocurrency providers until new rules are approved.
- BCB public consultations (Nos. 109, 110, and 111, 2024).
In 2024, the Central Bank held public consultations on draft regulations aimed at establishing the operating conditions for VASPs. Based on these consultations, the Central Bank developed draft regulations that should enter into force by the end of 2025. They will cover a wide range of issues, from licensing and market access conditions to rules on the use of stablecoins, international transfers, and self-service wallets. The new rules are expected to place particular emphasis on cybersecurity, consumer risk disclosure, and the introduction of mandatory AML and KYC requirements.
- Law No. 9.613/1998.
This law was not specifically enacted to regulate cryptocurrencies, but it is actively applied to this sector through AML/FT mechanisms. It requires:
- customer identification;
- retention of transaction information;
- reporting of suspicious transactions to COAF.
Although VASPs are not officially included in the list of entities subject to this law, they are strongly encouraged to voluntarily comply with its provisions as part of good business practice.
Licensing and registration
Currently, there are no specialized licenses for cryptocurrencies in Brazil similar to those in other countries. However, companies are expected to undergo a licensing procedure and meet several requirements to operate:
- minimum authorized capital;
- registered office in Brazil;
- qualified personnel;
- an effective internal control and audit system.
Until the new regulation is adopted, cryptocurrency companies are required to comply with the general requirements for financial institutions. This includes registration with the relevant government agencies and compliance with anti-money laundering (AML) and counter-terrorist financing (CTF) regulations.
Based on the regulatory initiatives proposed by the Central Bank in 2024, it can be assumed that from 2026, entrepreneurs will need a virtual asset service provider (VASP/DASP) license. This license will be mandatory for companies that carry out at least one of the following operations on behalf of their clients:
- Exchange of cryptocurrency for fiat (Brazilian real or foreign currencies). The strictest requirements are expected for this area (mandatory KYC/AML procedures, reserve capital, cybersecurity, internal reporting, and auditing).
- Exchange of cryptocurrency for cryptocurrency. This activity will be less strictly regulated, but will also comply with KYC/AML standards. Particular attention will be paid to combating price manipulation.
- Transfer of virtual assets between users.
- Custodial services (storage and administration of crypto assets). Companies offering such services will be required to implement high standards of information security (including cold storage), undergo certification, and undergo regular audits.
- Financial services related to the issuance and placement of virtual assets (e.g., ICOs).
For existing companies, there will be a transition period of at least six months from the date of approval of the final rules.
Register of crypto companies
Currently, there is no separate public “register of crypto companies” in Brazil. All companies operating in Brazil, including VASPs, must register with the CNPJ (Brazil’s national register of legal entities), which is maintained by the Federal Revenue Service, and apply to the BCB for authorization to operate as a VASP/DASP.
Obligations for conducting crypto business in Brazil
Companies providing services related to digital assets are required to implement a customer identification policy, including the implementation of a comprehensive KYC procedure. Verifying the identity of each customer has become an integral part of business processes aimed at preventing criminal activity and complying with legislation.
At the same time, crypto businesses must implement and maintain anti-money laundering (AML) measures, including transaction monitoring mechanisms and timely reporting of suspicious transactions. Reports on compliance with these standards are submitted to the Brazilian Financial Activities Control Council.
Legal entities and individuals conducting cryptocurrency transactions exceeding R$35,000 per month (approximately US$6,360) are required to report monthly to the Federal Revenue Service. This requirement applies to both companies and private investors. Failure to comply with this obligation may be considered tax evasion or a violation of financial discipline.
Responsibility for non-compliance
Companies that ignore regulatory requirements risk facing heavy fines, suspension of operations, and even revocation of their license. In particularly serious cases, legal proceedings and criminal prosecution are possible, especially if the violation involves concealment of income, money laundering, or participation in illegal schemes.
Conclusion
Brazil is the largest cryptocurrency market in Latin America and is taking important steps to create a clear legal framework for cryptocurrency businesses. The introduction of new rules will create a transparent and secure market for digital assets, ensuring user protection and financial stability for companies.
It is expected that by the end of 2025, regulation will become more detailed and the licensing process for cryptocurrency companies will begin in earnest. Service providers will have to comply with local licensing requirements, tax obligations, and strict AML/CFT protocols. This will create an attractive environment for investors and market participants, promoting the development of the crypto industry in this jurisdiction. However, companies entering the Brazilian digital asset market should prepare for a stricter regulatory framework with strict consumer protection and transparency rules.
Gofaizen & Sherle is ready to help businesses navigate local legislation and provide comprehensive support in obtaining a VASP/DASP license, ensuring compliance with all regulatory requirements.
FAQ about the VASP/DASP license in Brazil
What is a Brazil DASP license?
A DASP license in Brazil (VASP) is an official government registration as a Digital Asset Service Provider.
What does Law No. 14.478/2022 say?
Law No. 14.478/2022 in Brazil regulates the virtual asset market, establishing a legal framework for cryptocurrency transactions. It defines the requirements for digital asset service providers (VASP/DASP) and provides measures to combat financial crimes such as money laundering.
Who needs a DASP license in Brazil?
The license is required for companies providing services related to digital assets, including the exchange, storage, and management of cryptocurrencies. Registration is necessary to comply with local legislation and prevent financial crimes.
How long does it take to open a crypto company in Brazil?
Company registration can take up to 90 days, and obtaining a crypto license can take up to 60 days, depending on the accuracy of the documents, the region, and the speed of processing applications by government agencies.
Is cryptocurrency allowed in Brazil?
Yes, the use of cryptocurrencies, including Bitcoin, is permitted in Brazil, although they are not recognized as an official means of payment. The Virtual Assets Law (BVAL) regulates the digital asset sector, ensuring consumer protection and greater transparency.
Which authorities regulate the crypto market in Brazil?
Financial oversight of virtual assets is primarily carried out by the Central Bank of Brazil (BCB), including licensing issues. If a cryptocurrency is considered a security, oversight is transferred to the Securities and Exchange Commission (CVM). Both bodies operate in accordance with FATF recommendations.