Brazil is no stranger to the crypt for a long time. According to industry analysts, the country is one of the three world leaders in the number of cryptocurrency wallets. Trading on exchanges, p2p settlements, and the use of stablecoins for international transfers have long been commonplace for Brazilian businesses.
That is why the regulator does not prohibit, but builds rules.
What has changed in regulation
In 2026, the Central Bank of Brazil tightened the requirements for crypto platforms in several directions. Mandatory registration and licensing: Platforms working with Brazilian residents are required to obtain the status of a virtual asset provider (VASP). AML/KYC requirements: user identification and transaction monitoring at a level comparable to banking standards. Reporting: Transaction data is transmitted to the Receita Federal (Brazilian Tax Service).
Unlicensed platforms are leaving the market or moving into a gray area. For users, there is less anonymity and more confidence in the reliability of the site.
Digital Real: where is it now
CBDC Drex Project (digital real) It is being actively tested by the Central Bank with the participation of the largest financial institutions — Itaú Unibanco, Bradesco, Banco do Brasil. At the current stage, wholesale interbank settlements and testing of smart contracts for financial instruments are underway. Retail transactions are the next stage, with no specific dates yet.
In the context of BRICS, the digital real is potentially interesting as a settlement tool without a dollar contour: if BRICS Pay is based on the CBDC of the member countries, the Brazilian Drex becomes part of this infrastructure.
What does this mean for settlements with Brazil
For Russian companies that already use crypto for settlements with Brazilian partners, it is important to check the status of the platforms used. If the platform does not have a VASP license in Brazil, transactions may be blocked or come under increased control from the Receipt Federal.
Stricter regulation does not mean a ban — it means the need to work through licensed channels. In the medium term, this is even positive: it reduces the risk that a Brazilian counterparty will suddenly lose access to their wallet due to blocking an unlicensed platform.
The yuan circuit through Chinese intermediaries remains the most efficient scheme for Russian-Brazilian settlements right now. Crypta is the second option, but it requires attention to the license status.
