Brazil Unveils Bill 2946/2026 to Enshrine Crypto Rules as Federal Law

Brazil is taking a significant step towards regulating its cryptocurrency market by introducing Bill 2946/2026, which aims to turn Central Bank of Brazil crypto rules into federal law. The bill, introduced by Federal Deputy Jonas Donizette, enshrines the VASP rules adopted by the Central Bank in Resolution 519 and other resolutions as law.

This move is expected to bring stability and certainty to the Brazilian cryptocurrency market and its users. The bill codifies the requirements that Virtual Asset Service Providers (VASPs) must comply with to be authorized for operations, which includes mandatory registration across Brazil's crypto market.

The project has had a mixed reception, with local media claiming that it could bring more rigorous vigilance of VASPs and their actions. However, others believe that this will benefit the crypto market as a whole, given that these requirements will have the force of law, bringing more stability to the industry.

The bill is still in its initial stages and is expected to be enacted on the day of its publication, but will first have to be discussed and approved by both the Chamber of Deputies and the Senate.