Brazil Decree No. 11,563/2023: Virtual Asset Regulatory Competence

Article 1 gives the BCB competence to regulate the provision of virtual asset services, subject to the statutory guidelines in Law No. 14,478/2022. It also assigns the BCB authority to regulate, authorize and supervise virtual asset service providers. Article 2 further states that, for purposes of the statute’s framework, the BCB will discipline the functioning of those providers and will be responsible for their supervision.

Article 3 preserves important boundaries. The decree does not apply to assets representing securities that are subject to Law No. 6,385/1976, and it does not alter the powers of the Comissão de Valores Mobiliários. It also preserves the roles of Brazil’s consumer-defense system and authorities responsible for prevention and repression of crimes referenced by the virtual asset statute.

• Primary regulator: Banco Central do Brasil for virtual asset service providers.
• Securities boundary: CVM competence remains intact for securities, including digital representations of securities.
• Consumer and AML context: The decree does not displace consumer-protection or criminal-enforcement responsibilities preserved by the statute.
• Effective date: June 20, 2023.

Law No. 14,478/2022 established Brazil’s statutory framework for virtual asset services. It requires prior authorization by a federal public administration body for virtual asset service providers to operate in Brazil, defines covered service categories such as exchange, transfer, custody or administration of virtual assets, and gives the executive branch responsibility for assigning supervision and operational-discipline functions. Decree No. 11,563/2023 performs that assignment by naming the BCB.

For readers tracking Brazil’s crypto law architecture, the distinction matters: the law establishes the framework and statutory definitions; the decree identifies the competent federal regulator; and BCB resolutions set detailed authorization, operating, governance, anti-money-laundering, foreign-exchange and prudential requirements. Those later rules should be tracked as related implementing instruments rather than treated as amendments to the decree unless an official amendment says so.

As of July 6, 2026, the Câmara dos Deputados legislation database lists no express revocation for Decree No. 11,563/2023. The legal profile should therefore treat the decree as in force, while separately tracking the BCB’s subsequent implementing regulations, including the 2025 virtual asset rules and the 2026 prudential classification measures for PSAVs.

This profile is a legal-reference summary, not legal, tax, investment or compliance advice. Market participants should consult the official legal text and qualified counsel before relying on any regulatory interpretation.