Brazil Introduces Bill 2946 to Codify Central Bank Crypto Rules Into Law

Federal Deputy Jonas Donizette introduced Bill 2946/2026 on Tuesday to regulate virtual asset service providers (VASPs) in Brazil. The bill codifies Resolution 519 of 2025, Resolution 520, and Resolution 521 issued by the Central Bank of Brazil, establishing mandatory registration requirements for crypto service providers. Brazil is evolving its cryptocurrency regulation to create a stable environment for VASPs and retail users through statutory frameworks.

Bill 2946 Codifies Central Bank Resolutions Into Federal Law

Bill 2946/2026 seeks to give legal range to resolutions published by the Central Bank of Brazil. Resolution 519 of 2025 establishes the requisites that VASPs must comply with to be authorized for operations. Resolution 520 explains the rules regarding the provision of virtual asset service. Resolution 521 rules on which kind of transactions are classified as foreign exchange operations. Donizette claims the objective of this law is to provide statutory stability to these regulatory standards.

Bill Establishes Mandatory VASP Registration Requirement

The bill establishes the obligation to register with the relevant regulator to offer crypto services in the country. The text does not mention the Central Bank of Brazil by name, though the institution currently oversees these registration processes. The project codifies existing Central Bank resolutions into federal law.

Mixed Reception Among Industry Observers and Media

The introduction of the project has had a mixed reception. Local media claims it could bring more rigorous vigilance of VASPs and their actions, contributing to the already strict regulatory burden over these institutions in Brazil. Others claim 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, as these cannot be changed as easily as simple rules.

Chamber of Deputies and Senate to Debate Bill

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

FAQ

What did Jonas Donizette introduce on Tuesday? Federal Deputy Jonas Donizette introduced Bill 2946/2026 on Tuesday to regulate virtual asset service providers in Brazil by codifying Central Bank resolutions into federal law.

Which Central Bank resolutions does Bill 2946 codify? Bill 2946/2026 codifies Resolution 519 of 2025, Resolution 520, and Resolution 521 issued by the Central Bank of Brazil, covering VASP authorization requirements, service provision rules, and foreign exchange transaction classifications.

What must happen before Bill 2946 becomes law? The bill must be discussed and approved by both the Chamber of Deputies and the Senate before enactment.