Is crypto Legal in Brazil?

Cryptocurrencies are not recognized as legal tender in Brazil but are permitted to operate as digital assets. The Central Bank of Brazil clarifies that virtual assets, commonly known as cryptocurrencies, are neither issued nor guaranteed by the central bank, and their use depends on service providers that must comply with evolving regulation (1).

The Brazilian regulatory framework is developing in phases, requiring virtual asset service providers to obtain authorization from the Central Bank. Meanwhile, the tax authority mandates reporting and taxation of crypto operations, ensuring transparency and consumer protection (2).

"Os criptoativos são popularmente conhecidos como “moedas virtuais”, sendo o Bitcoin a mais famosa entre elas. Mas lembre-se! Criptoativos ou moedas virtuais não são somente Bitcoins. Declare as operações realizadas com qualquer criptoativo ou moeda virtual."

All individuals and legal entities resident in Brazil must report operations with crypto-assets under Instrução Normativa RFB nº 1888/2019. Monthly filings are required for total transactions exceeding R$ 30 000, and Brazilian exchanges must submit user-level data annually, reinforcing compliance and tax collection.

Source:
https://www.bcb.gov.br/meubc/faqs/p/moedas-virtuais-criptomoedas-ou-criptograficas
https://www.gov.br/receitafederal/pt-br/assuntos/orientacao-tributaria/declaracoes-e-demonstrativos/criptoativos

Last updated: 15-05-2025 Disclaimer: This article does not provide legal advice. If you need legal advice, please contact an attorney directly.