Obtain a Crypto License in Brazil

Companies that function as Virtual Asset Service Providers (VASP) fall under specific regulations and are required to obtain approvals that can be seen as a condition to obtain a crypto license in Brazil. Our team that can help you open a company in Brazil can also assist with obtaining a VASP license.

What is the crypto license in Brazil?

The VASP license in Brazil, which can also be referred to as a crypto license, is in line with the regulatory framework to which companies that qualify as virtual asset service providers must adhere. If you want to open a company in Brazil that offers crypto wallet services, for example, you will have to obtain the proper license for your activities.

What companies must apply for a crypto license in Brazil?

A company that applies for a VASP license in Brazil must:

• Be incorporated in the country, as per the local rules for company registration in Brazil; and
• Have its headquarters/administration located within Brazil, subject to the requirements and regulations set forth by the Brazilian authorities.

What activities do virtual asset service providers require a license for?

Companies apply for a VASP license in Brazil when they act as:

• Virtual asset intermediaries;
• Custodians of virtual assets;
• Brokers of virtual assets.

A company can only carry out the activities for which it has been expressly licensed to do so. It may not engage in a combination thereof if licenses were not provided for.

What are the main requirements for crypto companies?

Businesses that operate as virtual asset services providers in Brazil are required to meet not only the formal procedures for licensing, but also satisfy specific requirements concerning:

• Their suitability for providing the virtual asset solutions they are applying to be licensed for;
• Their internal controls;
• Having a viable business plan (demonstrated via relevant documentation);
• Having suitable and sufficient technological solutions for the provision of services;
• Meeting governance requirements;
• Maintaining managers and company directors with sufficient expertise to ensure the suitable and proper conduct of activities.

Where do I apply for a crypto license in Brazil?

Applications are submitted to the Central Bank of Brazil, and our team can assist with preparing the documents and meeting the full requirements for this submission.

Do existing VASP companies require a license?

Yes. If you already have a company in Brazil that offers services which can be assimilated to the ones described above (i.e., acting as an intermediary, custodian, or broker for virtual assets), you are required to meet the requirements for pre-existing VASPs in Brazil.

Do foreign VASP companies in Brazil require a license?

Yes. Not only that, but the rules set forth by the Central Bank of Brazil make it mandatory for foreign companies that offer VASP services to go through the process of company registration in Brazil.

To operate as a virtual asset service provider in Brazil, as most crypto companies are considered, the company must be registered in the country.

Contact us for more information on the requirements for VASP companies and assistance when applying for a crypto license in Brazil.