At a glance
- The filing went to the central bank on Tuesday, ahead of an Oct. 30 compliance deadline, according to Valor Econômico.
- The Oct. 30 deadline gives Brazilian allocators a concrete cutoff for crypto counterparties: a bank that misses it must stop providing crypto services within 30 days.
- Itaú's trading and custody service corresponds to the brokerage category under the rules and offers 15 cryptoassets, including bitcoin, ether and the dollar-pegged stablecoin USDC, CoinDesk reported.
Itaú Unibanco, Brazil's largest private bank, filed a notice with Brazil's central bank to formalize its crypto trading and custody business, becoming the first bank in the country to do so under the new digital-asset rules, CoinDesk reported.
The filing went to the central bank on Tuesday, ahead of an Oct. 30 compliance deadline, according to Valor Econômico.
The Oct. 30 deadline gives Brazilian allocators a concrete cutoff for crypto counterparties: a bank that misses it must stop providing crypto services within 30 days. In September the central bank moved to Nov. 6 the date from which banks and other authorized institutions are barred from doing crypto business with unauthorized providers.
Itaú's trading and custody service corresponds to the brokerage category under the rules and offers 15 cryptoassets, including bitcoin, ether and the dollar-pegged stablecoin USDC, CoinDesk reported. The service began in December 2023.
Resolution 520 took effect Feb. 2 and gave financial institutions already active in crypto 270 days to notify the regulator. Submissions must include an independent technical certification that the institution meets the resolution's requirements.
Banks already authorized by the central bank follow that notification route. Dedicated virtual-asset service providers must apply for operating authorization instead.
The crypto compliance calendar Brazil's banks must hit
Key dates under Resolution 520, from the 270-day notification window to the counterparty bar
- Feb. 2Resolution 520 takes effect; 270 days to notify (Completed)
- SeptemberCounterparty bar pushed to Nov. 6 (Completed)
- Oct. 30Deadline to notify; missing it means a 30-day wind-down (Current stage)
- Nov. 6Banks barred from business with unauthorized providers (Upcoming)
Show as table
| Date | Event | Detail |
|---|---|---|
| Feb. 2 | Resolution 520 takes effect; 270 days to notify | |
| September | Counterparty bar pushed to Nov. 6 | |
| Oct. 30 | Deadline to notify; missing it means a 30-day wind-down | |
| Nov. 6 | Banks barred from business with unauthorized providers |
Reported by the Adoption desk from CoinDesk Policy and Valor Econômico (cited by CoinDesk). Published . Corrections