Brazil's Crypto Market Enters Comprehensive Regulatory Phase, Independent Proof Becomes Key for Market Access

Web3 security company CertiK released a report indicating that as the deadline for authorization applications set by the Central Bank of Brazil approaches (October 30), local virtual asset service providers (PSAVs) are facing compliance adjustments. Independent third-party compliance and security certifications have become important requirements for market access. Brazil is one of the markets with the highest adoption of crypto assets globally, and the impact of this regulatory transformation may extend beyond the local market. The report shows that Brazil currently ranks fifth in the world for actual adoption rates of crypto assets, with an estimated on-chain asset value of $318.8 billion expected to be received in Brazil from June 2024 to June 2025, accounting for nearly one-third of on-chain activity in South America during the same period. Stablecoins hold a significant position in the local digital asset market, with approximately 80% of crypto asset transactions reported to the Brazilian Federal Revenue Service being stablecoin transactions.

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