Crypto Travel Rule Regulations in



Central Bank of Brazil 

Travel Rule required from
Travel Rule regulation still pending
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Central Bank of Brazil 

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What personally identifiable information must VASPs collect and share for the Crypto Travel Rule in [country]?


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Brazil has been actively working on creating a comprehensive regulatory framework for the crypto market, focusing on the activities of Virtual Asset Service Providers (VASPs). The regulatory efforts are led by the Central Bank of Brazil (Banco Central do Brasil), in collaboration with other regulatory bodies like the Securities and Exchange Commission (CVM) and the Federal Revenue Service (RFB). This framework is built upon the legal foundation established by Law No. 14.478/2022 and Decree No. 11.563/2023.

Key Regulatory Milestones

  1. Law No. 14.478/2022 and Decree No. 11.563/2023:
    • These legislative instruments set the groundwork for regulating VASPs, mandating that these providers must obtain authorization from the Central Bank to operate in Brazil. The decree specifies the roles and coordination between various regulatory bodies.
  2. Phased Regulatory Approach:
    • The regulatory process is divided into phases, with the first phase aimed at collecting inputs from the public to draft preliminary regulatory texts. These drafts will address operational and authorization aspects of VASPs.
  3. Public Consultation Process:
    • The first round of consultation, which concluded on January 31, 2024, focused on gathering broad contributions on governance aspects like anti-money laundering (AML) measures, risk management, and blockchain custody monitoring. 
    • This consultation specifically included a question about the implementation of the Travel Rule. Question 30 of consultation asked the following: “How can these institutions [virtual asset service providers] ensure compliance with the Travel Rule, as per Recommendation 16 of the Financial Action Task Force?”. Notabene’s response is available here
    • second round of public consultation is planned for the second half of 2024. 
    • This consultation will address the general operational norms and authorization processes for Virtual Asset Service Providers (VASPs). It will include internal planning for the regulation of stablecoins, particularly within the Central Bank's areas of competence regarding payment systems and international currency markets. Additionally, the consultation aims to develop and enhance a complementary regulatory framework to integrate VASPs into the broader financial system. This includes aspects such as the operation of VASPs in foreign exchange and international capital markets, prudential regulation, reporting requirements to the Central Bank, accounting standards, fee structures, and suitability standards.
  4. Next steps expected in 2024:
    • The first public consultation, which concluded in January, is currently in the process of organizing and analyzing the comments and feedback received. The collected input will serve as a foundation for developing draft regulatory texts, which will undergo a similar public consultation process to ensure high-quality regulation. Technical teams are working diligently to create robust regulations based on recognized practices and incorporating market and citizen feedback.
    • Following the second public consultation, the contributions will be utilized to finalize the regulatory proposals by the end of 2024.


Brazil's regulatory framework for the crypto market is in an active development phase, spearheaded by the Central Bank. The process involves significant public consultation and collaboration with other regulatory bodies to ensure a comprehensive and effective regulatory environment. Key milestones include foundational legislation, ongoing public consultations, and a phased approach to implementing detailed regulations, with a strong emphasis on investor protection and market stability.


Notabene's commitment to privacy + security:

Bank-grade security for an insecure world
  • Passed rigorous security reviews by more than 50 institutions, including global banks and top 20 crypto exchanges
  • Annual SOC 2 Type II Audit for Security and Data Privacy Categories
  • Regular penetration testing by security audit leader Cobalt
Industry’s strongest protection for your customer data
  • Industry’s only escrowed exchange of encrypted PII
  • Compliant with EU GDPR, Singapore PDA
  • Plug-and-play Travel Rule end-user data consent component
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  • 24h/7 days a week uptime
  • Configurable enterprise SLA
  • SOC2 compliant disaster recovery and business continuity plans
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