Central Bank sets rules for banks to offer cryptocurrency services

2026-01-23 01:38:58

Source: PortaldoBitcoin Original Title: Central Bank sets rules for banks to offer cryptocurrency services Original Link: The Central Bank has published the rules for banks that wish to offer their clients buying and selling of cryptocurrencies. The main point is the requirement to hire an external audit, which must verify the adoption of good practices in the segregation of virtual assets.

Normative Instruction BCB 701/2026 is intended for companies such as commercial banks, exchange banks, investment banks, multiple banks, Caixa Econômica Federal, securities brokerage firms, securities distributing companies, and currency brokerage firms.

Banks that want to provide virtual asset services, such as custody and intermediation, will need to obtain a technical certification prepared by a qualified and independent company. Intermediation is the term used by the Central Bank for activities like buying, selling, and converting crypto into reais.

This report must certify that the bank effectively segregates its clients’ virtual assets from the institution’s own assets, and must also present proof of reserves demonstrating that the company actually holds the virtual assets it declares to keep on behalf of its clients and users.

The document must also prove that banks have adequate governance and compliance structures, including risk and capital management and cybersecurity policies. The regulation significantly expands the scope of the technical certification, which must also evaluate the contracting of relevant services, including technology and cloud computing, the operational capacity of third-party providers, and recovery plans in case of incidents affecting client assets.

The conclusive opinion must also attest to the existence of internal controls, anti-money laundering policies, and mechanisms for continuous monitoring of risks and incidents. The Central Bank may request further details in the report, which must remain available for supervision purposes for at least five years.

Normative Instruction comes into effect on February 2, 2026, from which date institutions will be subject to the new requirements.

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