Brazil Central Bank Normative Instruction 693/2025 – Virtual Asset Service Reporting

The instruction creates the operating mechanics for reporting, rather than a standalone licensing regime. It focuses on the remittance of data to the BCB for four categories of activity: international payments or transfers using virtual assets; loading or unloading virtual assets on cards or other international electronic payment instruments; transfers to or from self-custodied wallets that are not international payments or transfers; and monthly totals for purchases, sales, and exchanges of fiat-referenced virtual assets.

The rule identifies the institutions that must report when they perform covered virtual asset services in the foreign exchange market. These include banks, Caixa Econômica Federal, securities brokerages, securities distributors, foreign exchange brokerages, and virtual asset service provider companies. Virtual asset service provider companies active on February 2, 2026 and providing covered foreign exchange services are directed to register for Sisbacen access and request the PSTA300 and SCAM0019 services for file transmission.

Instruction 693/2025 uses document code C212, named Prestação de Serviços de Ativos Virtuais no Mercado de Câmbio, with the ACAM212 file. The remittance is monthly and may be made through a single monthly file or through more than one transmission file, provided the deadline is respected. The filing channel is the BCB’s Sistema de Transferência de Arquivos, with XML format and XSD validation according to the annexed document characteristics and BCB technical-layout materials.

The information required varies by transaction category. For cross-border virtual asset payments or transfers, the rule covers fields such as the operation date, purpose, remittance or inflow classification, client identification, asset denomination, asset quantity, BRL reference value, and information on the payer or receiver abroad. For self-custody transfers, the fields include customer identification, the virtual asset, amount, wallet-holder identification, and whether the wallet is the origin or destination. For fiat-referenced virtual assets, the rule uses monthly totals and identifies whether the client obtained or delivered the asset.

The instruction was issued on December 19, 2025, published in Brazil’s official gazette on December 22, 2025, and entered into force on February 2, 2026. IN BCB No. 736/2026 later amended wording in Articles 1 and 4, including the formulation for international payments or transfers with virtual assets. IN BCB No. 756/2026 then amended Article 2 to align the reporting timetable with the updated Resolution BCB No. 277 framework, replacing the initial May 2026 data-base with a November 2026 data-base.

For editorial tracking, the practical milestone is therefore not the legal effective date but the first data-base for reportable activity. Resolution BCB No. 574/2026 refers to covered virtual asset service operations carried out from November 3, 2026, with monthly information due by the fifth day of the following month in the form defined by the BCB. Editors should verify any operational calendar treatment for the first monthly submission before publication near the deadline.

Instruction 693/2025 is relevant to Brazil’s treatment of virtual assets as part of the foreign exchange regulatory perimeter. It does not address every virtual asset activity in Brazil. Its focus is narrower: data remittance, file format, responsible institutional contacts, asset-code identification, and operational access for entities whose virtual asset services fall within the covered foreign exchange-market categories. The rule is best tracked together with Resolution BCB Nos. 521/2025, 574/2026, and the BCB’s broader virtual asset service provider framework.