Brazil Central Bank Sets Minimum Capital for VASP Licenses at $2.11 Million

The Central Bank of Brazil has finalized rules for Virtual Asset Service Providers (VASPs), setting minimum capital requirements between 10.8 million and 37.2 million BRL (approximately $2.11 million to $7.2 million). These requirements are significantly higher than the initial proposal and include strict mandates for governance, internal controls, anti-money laundering, and auditing. Industry estimates suggest that out of 150 to 300 existing companies, only about 10 may ultimately secure licenses, leading some smaller platforms to restructure or terminate their retail operations.