According to CoinMeta, the Central Bank of Brazil has issued Resolutions No. 588 and No. 589, requiring virtual asset service providers (VASP) to report transactions involving self-managed wallets with amounts reaching or exceeding $10,000, and to submit this data to the Financial Activities Control Commission (COAF). Resolution No. 589 also prohibits conducting business with unauthorized virtual asset service institutions or entities operating in Brazil. The new regulations will come into effect on October 1, 2026, and currently, only 5 VASP have applied for a license to operate in Brazil.