Brazil's Central Bank got only five crypto authorization applications 40 days before the deadline, and one was denied
By mid-September 2026, only five companies had filed an authorization application with the Central Bank of Brazil, according to Valor Econômico. Four remain under evaluation and one was denied. What happens to those who do not apply by October 30, and what customers should do.
Historical reference: September 22, 2026. Published on this site on November 2, 2026. Dates in the text identify the period covered.
In this article
Key points
- By mid-September 2026, the Central Bank of Brazil (BCB) had received only five authorization applications from virtual asset service providers: four under evaluation and one denied, according to Valor Econômico.
- Companies already operating have until October 30 to file. Those that file on time may keep the service until the process ends; those that do not must stop within 30 days.
- From October 30, banks and payment institutions may not enable operations with providers that are neither authorized nor in the authorization process (art. 91 of BCB Resolution 520).
- The BCB did not disclose the name of the denied company or the reason. The only company with an application in progress that has been identified is Onda Finance, named in a BCB notice released on September 21.
São Paulo, September 22, 2026 — About 40 days before the deadline for virtual asset service providers to apply for authorization from the Central Bank of Brazil (BCB), the queue is short. As of last week, the BCB had received five applications, according to Valor Econômico. Four remain under evaluation and one was denied, information repeated by InvestNews and Letsmoney on September 22. Neither the name of the denied company nor the reason was disclosed. The number contrasts with the size of Brazil's crypto market and with what the rule intended: to bring the companies already operating under supervision.
- Applications received by the BCB by mid-September (Valor Econômico)
- 5
- Under evaluation
- 4
- Denied, with no name or reason disclosed
- 1
- End of the 270-day period for companies already operating
- 10/30
What the rule says about the deadline
BCB Resolutions 519, 520 and 521 were published on November 10, 2025 and took effect on February 2, 2026, as the article Central Bank publishes Resolutions 519, 520 and 521 shows. Article 88 of BCB Resolution 520 requires companies that were already carrying out virtual asset activities on the effective date to apply for authorization to operate within 270 days, counted from February 2. The count ends on October 30, 2026.
The same article says what happens afterward. Companies that file in time may keep providing services until the process ends, without taking on another category in that period (§ 6). Those that do not file must cease virtual asset services within 30 days after the deadline (§ 7). During this adjustment period, the company sends the BCB information on clients and balances, in some cases daily, and proof of reserves every month (art. 88, III).
What happens on October 30
The date matters outside the Central Bank too. Article 91 of BCB Resolution 520 bars, from October 30, 2026, financial institutions, payment institutions and other authorized institutions from carrying out or enabling operations in the virtual asset market with counterparties that provide these services and are neither authorized nor in the authorization process, except in the ways expressly allowed by the rule. The sole paragraph includes trading, custody, foreign exchange operations, opening payment accounts and payment transactions.
- 02/02/2026BCB Resolutions 519, 520 and 521 take effect and the 270-day count begins.
- 02/19/2026BCB Resolution 548 sets at 1,080 days, about three years, the maximum period for the BCB to decide applications from companies already operating.
- Mid-Sep/2026Position cited by Valor: five applications received, four under evaluation, one denied.
- 09/21/2026BCB notice names Onda Finance as an institution in the authorization process.
- 10/30/2026End of the deadline to file an application; the art. 91 ban begins for banks and payment institutions.
- Up to 30 days laterDeadline to cease virtual asset services for those that did not file an application (art. 88, § 7).
Why so few applications
The Central Bank did not explain the number, and the sources consulted do not identify the applications, except for one. Onda Finance, a fintech building international payments infrastructure, appears in BCB Notice 45,986, released on September 21, as an institution in the authorization process. The notice lists the nominated managers and opens a 15-day period for objections, according to Letsmoney. That does not mean the company is already authorized to operate. There are factors that help read the number, though none of them is confirmed as the cause.
Filing means the Central Bank received the application. The process has two phases, with 360 and 720 days for review, according to Estadão Conteúdo, within the maximum of 1,080 days set by BCB Resolution 548, and the clock runs once the company delivers all the documents. A company that has filed keeps operating, but is not yet authorized.
What customers should do now
Anyone who holds a balance or trades on crypto platforms in Brazil has about five weeks to check their status. The Central Bank publishes notices of institutions in the authorization process, and BCB Resolution 520 requires providers to disclose their regulatory status on the website and in the app. The general rules are in Central Bank crypto rules take effect.
- Check the regulatory status the company discloses and compare it with the Central Bank's list. If the company does not state it, ask.
- Look for the exit notice. Platforms that do not apply for authorization must stop virtual asset services within 30 days after the deadline. Follow the announcements and the balance withdrawal rules.
- Withdraw the balance that does not need to be on the platform and keep statements and receipts for everything that was moved.
- For supplier payments, confirm whether the company that intermediates or converts the USDT has filed an application or holds an authorization, and whether its bank will still be able to serve it after October 30.
- Be wary of promises of authorization. A filed application is not a license: authorization exists only after the Central Bank's decision.
Frequently asked questions
How many companies have applied to the Central Bank for authorization to operate with crypto?
By mid-September 2026, the BCB had received five applications from virtual asset service providers, according to Valor Econômico. Four were under evaluation and one was denied. The deadline for companies already operating runs until October 30, and the number may grow by then.
What happens to an exchange that does not apply for authorization by October 30?
Under BCB Resolution 520, a company that does not file its application in time must cease providing virtual asset services within 30 days. In addition, banks and payment institutions are barred, from October 30, from enabling operations with it.
Can I lose the money held on a platform that did not apply for a license?
The sources consulted do not point to an automatic loss. The new rules require segregation of client assets, according to Capital Aberto. The risk exists when the company has financial problems or discloses nothing, so it is worth withdrawing the balance and keeping the receipts.
Does a filed application mean the company is authorized by the Central Bank?
No. Filing means the application was received. The company may keep the service during the process, which has two phases and can take up to three years, but it is authorized only after the Central Bank's decision.
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Sources
- Resolução BCB nº 520, de 10 de novembro de 2025 (arts. 88 e 91) · Banco Central do Brasil, Nov 10, 2025
- Banco Central revela primeira empresa cripto em processo de autorização no Brasil · InvestNews, Sep 22, 2026
- BC revela 1ª empresa cripto em processo de autorização · Letsmoney, Sep 22, 2026
- Resolução BCB nº 548, de 19 de fevereiro de 2026 (prazos máximos de decisão) · Banco Central do Brasil, Feb 19, 2026
- BC fixa prazo máximo de 3 anos para autorizar exchanges de criptomoedas · InfoMoney, com Estadão Conteúdo, Feb 20, 2026
- BC publica regras para o mercado de criptoativos e mantém permissão para autocustódia · Capital Aberto, Nov 10, 2025
- Resolução BCB nº 580, de 1º de julho de 2026 · Banco Central do Brasil, Jul 1, 2026
- Por que tantas exchanges de criptomoedas estão fechando no Brasil? · InvestNews, Sep 18, 2026
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