{"id":39847,"date":"2026-10-06T16:42:39","date_gmt":"2026-10-06T14:42:39","guid":{"rendered":"https:\/\/crystalintelligence.com\/?p=39847"},"modified":"2026-10-06T16:45:18","modified_gmt":"2026-10-06T14:45:18","slug":"new-brazil-psav-compliance-rules-from-policy-to-proof","status":"publish","type":"post","link":"https:\/\/crystalintelligence.com\/thought-leadership\/new-brazil-psav-compliance-rules-from-policy-to-proof\/","title":{"rendered":"New Brazil PSAV compliance rules: from policy to proof"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"39847\" class=\"elementor elementor-39847\" data-elementor-post-type=\"post\">\n\t\t\t\t<div class=\"elementor-element elementor-element-45e68bc e-con-full e-flex e-con e-parent\" data-id=\"45e68bc\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-4755d6e4 elementor-widget__width-auto elementor-widget elementor-widget-image\" data-id=\"4755d6e4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"40\" height=\"40\" data-src=\"https:\/\/crystalintelligence.com\/rohirov\/2026\/03\/Blog-Icon.svg\" class=\"attachment-full size-full wp-image-36274 lazyload\" alt=\"\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 40px; --smush-placeholder-aspect-ratio: 40\/40;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-661c2582 e-con-full e-flex e-con e-child\" data-id=\"661c2582\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-78d3f0aa elementor-widget elementor-widget-heading\" data-id=\"78d3f0aa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\">By Gianluca Rigobello<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7dc3afc3 elementor-widget elementor-widget-heading\" data-id=\"7dc3afc3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<span class=\"elementor-heading-title elementor-size-default\">Growth Manager for North and Latin America at Crystal Intelligence<\/span>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4ab84f56 e-con-full e-flex e-con e-parent\" data-id=\"4ab84f56\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-295b98d7 e-con-full e-flex e-con e-child\" data-id=\"295b98d7\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-531aaca0 e-con-full e-flex e-con e-child\" data-id=\"531aaca0\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-db2107 elementor-widget-tablet_extra__width-initial elementor-widget__width-initial elementor-widget elementor-widget-heading\" data-id=\"db2107\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<p class=\"elementor-heading-title elementor-size-default\">Share via:\n<\/p>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5d3c837f elementor-widget elementor-widget-image\" data-id=\"5d3c837f\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"facebook-post\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"36\" height=\"36\" data-src=\"https:\/\/crystalintelligence.com\/rohirov\/2026\/02\/FB.svg\" class=\"attachment-full size-full wp-image-35273 lazyload\" alt=\"\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 36px; --smush-placeholder-aspect-ratio: 36\/36;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-309cfd69 elementor-widget elementor-widget-image\" data-id=\"309cfd69\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"linkedin-post\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"36\" height=\"36\" data-src=\"https:\/\/crystalintelligence.com\/rohirov\/2026\/02\/In.svg\" class=\"attachment-full size-full wp-image-35275 lazyload\" alt=\"\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 36px; --smush-placeholder-aspect-ratio: 36\/36;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d731fb elementor-widget elementor-widget-image\" data-id=\"1d731fb\" data-element_type=\"widget\" data-e-type=\"widget\" id=\"x-post\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"36\" height=\"36\" data-src=\"https:\/\/crystalintelligence.com\/rohirov\/2026\/02\/x.svg\" class=\"attachment-full size-full wp-image-35274 lazyload\" alt=\"\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 36px; --smush-placeholder-aspect-ratio: 36\/36;\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7be00679 e-con-full e-flex e-con e-child\" data-id=\"7be00679\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1d790b2e elementor-align-left elementor-widget elementor-widget-post-info\" data-id=\"1d790b2e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-75ab97c elementor-inline-item\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-custom\">\n\t\t\t\t\t\t\t\t\t\tUpdated on: October 6, 2026\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5788cc25 e-con-full e-flex e-con e-parent\" data-id=\"5788cc25\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-72435f46 e-con-full e-flex e-con e-child\" data-id=\"72435f46\" data-element_type=\"container\" data-e-type=\"container\" id=\"content-container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-54f1c34 elementor-widget elementor-widget-text-editor\" data-id=\"54f1c34\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span data-contrast=\"auto\">Brazil\u2019s virtual asset service providers (PSAVs) have less than a month to file for authorization with the Central Bank of Brazil (BCB). Under Resolution BCB 520, firms already operating must file by October 29, 2026. Firms that do not file must stop operating within 30 days of that date.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Much of the market\u2019s attention has gone to documents: policies, manuals, and organizational charts. This focus is understandable, but it misses the main change. The new regime not only adds obligations but also changes how compliance is judged. A PSAV must now show, with records, that its controls actually work: who saw an alert, who made the decision, and what happened next.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">This was the clearest message from a recent Crystal Intelligence webinar with specialists in compliance, identity verification, and regulation and explain what this shift means and where PSAVs are most exposed.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><a href=\"https:\/\/www.linkedin.com\/in\/gianlucarigobello\/\"><span data-contrast=\"none\">Gianluca Rigobello<\/span><\/a><span data-contrast=\"auto\">, Crystal\u2019s Growth Manager for North and Latin America, led the discussion, with the expert panel including <\/span><a href=\"https:\/\/www.linkedin.com\/in\/nagel-lis%C3%A2nias-paulino-b0a5492b7\/\"><span data-contrast=\"none\">Nagel Lis\u00e2nias Paulino,<\/span><\/a><span data-contrast=\"auto\"> the Head of Division in the Department of Financial System Regulation at the Central Bank of Brazil (BCB); <\/span><a href=\"https:\/\/www.linkedin.com\/in\/georgiasanches\/\"><span data-contrast=\"none\">Georgia Sanches<\/span><\/a><span data-contrast=\"auto\">, the Brazil Country Manager at Sumsub; and <\/span><a href=\"https:\/\/www.linkedin.com\/in\/patricia-marinho-ll-m-crcp-2b283810\/\"><span data-contrast=\"none\">Patricia Marinho<\/span><\/a><span data-contrast=\"auto\">, Cofounder and Co-Chief Executive Officer at Corisma Services.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Two audience polls conducted during the discussion revealed volumes about who had tuned in, and why:<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p><p><b><span data-contrast=\"auto\">Poll #1<\/span><\/b><\/p><p><img decoding=\"async\" class=\"alignnone size-large wp-image-39853 lazyload\" data-src=\"https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/poll-1-results-1024x576.png\" alt=\"\" width=\"1024\" height=\"576\" data-srcset=\"https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/poll-1-results-1024x576.png 1024w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/poll-1-results-300x169.png 300w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/poll-1-results-768x432.png 768w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/poll-1-results-1536x864.png 1536w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/poll-1-results-2048x1152.png 2048w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;\" \/><i><span data-contrast=\"auto\">Above: VASPs (42%) and financial institutions (32%) made up 74% of attendees, showing that the rules matter to PSAVs and to the banks and fintechs serving them. Source: Crystal Intelligence.<\/span><\/i><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><h2 aria-level=\"2\">Key points<\/h2><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Resolutions BCB 519, 520, and 521<\/span><\/b><span data-contrast=\"auto\"> were published on November 10, 2025, and came into force on February 2, 2026.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Operating PSAVs must file for authorization by October 29, 2026.<\/span><\/b><span data-contrast=\"auto\"> The filing itself must show that core controls already work, and <\/span><b><span data-contrast=\"auto\">supervisors will look for evidence trails<\/span><\/b><span data-contrast=\"auto\">, not only well-written policies.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">The travel rule applies between Brazilian PSAVs from February 2027<\/span><\/b><span data-contrast=\"auto\"> and to international transfers from February 2028. The rule\u2019s main practical obstacles are protocol interoperability and identifying which VASP controls a wallet address.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Responsibility stays with the PSAV<\/span><\/b><span data-contrast=\"auto\">, regardless of which vendors it uses.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"4\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"5\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Crystal polling found that representatives of VASPs and crypto-linked FIs comprised 74% of the audience<\/span><\/b><span data-contrast=\"auto\">, illustrating who the incoming rules most affect.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><h2 aria-level=\"2\">What do Resolutions 519, 520 and 521 change?\u00a0<\/h2><p><span data-contrast=\"auto\">Before these rules, PSAVs were already subject to legal, tax and anti-money laundering (AML) obligations as well as consumer protection rules where they applied. What they did not have was a specific regime of authorization and continuous supervision by the Central Bank. The three resolutions create that regime, and each has a distinct role.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p><p><img decoding=\"async\" class=\"alignnone size-large wp-image-39855 lazyload\" data-src=\"https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/aml-slide-2-1024x576.png\" alt=\"\" width=\"1024\" height=\"576\" data-srcset=\"https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/aml-slide-2-1024x576.png 1024w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/aml-slide-2-300x169.png 300w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/aml-slide-2-768x432.png 768w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/aml-slide-2-1536x864.png 1536w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/aml-slide-2-2048x1152.png 2048w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;\" \/><\/p><p><em>Source: Crystal Intelligence.<\/em><\/p><p><a href=\"https:\/\/www.bcb.gov.br\/estabilidadefinanceira\/exibenormativo?tipo=Resolu%C3%A7%C3%A3o%20BCB&amp;numero=519\"><b><span data-contrast=\"none\">Resolution 519<\/span><\/b><\/a><b><span data-contrast=\"auto\"> governs the authorization process.<\/span><\/b><span data-contrast=\"auto\"> The BCB reviews controlling shareholders and directors, the lawful origin of capital, financial capacity, and the business plan. It also checks whether technology and governance match the complexity and risks of the planned operations.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><a href=\"https:\/\/www.bcb.gov.br\/estabilidadefinanceira\/exibenormativo?tipo=Resolu%C3%A7%C3%A3o%20BCB&amp;numero=520\"><b><span data-contrast=\"none\">Resolution 520<\/span><\/b><\/a><b><span data-contrast=\"auto\"> is the core of the framework.<\/span><\/b><span data-contrast=\"auto\"> It defines how a PSAV is constituted and how it operates day to day. It classifies providers into three types: <\/span><a href=\"https:\/\/crystalintelligence.com\/crystal-expert-for-crypto-exchanges-wallets-and-payment-firm-founders\/\"><span data-contrast=\"none\">intermediaries, custodians, and brokers<\/span><\/a><span data-contrast=\"auto\">. It sets rules on segregating client assets, custody, proof of reserves, and independent audit. It also sets requirements for internal controls, risk management, AML, and cybersecurity, and holds management accountable. The travel rule obligations sit here, too.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><a href=\"https:\/\/www.bcb.gov.br\/estabilidadefinanceira\/exibenormativo?tipo=Resolu%C3%A7%C3%A3o%20BCB&amp;numero=521\"><b><span data-contrast=\"none\">Resolution 521<\/span><\/b><\/a><b><span data-contrast=\"auto\"> brings certain virtual asset operations into Brazil\u2019s foreign exchange framework.<\/span><\/b><span data-contrast=\"auto\"> It sets a limit of USD100,000 per international payment or transfer when the counterparty is not an institution authorized to operate in the foreign exchange market. It also requires PSAVs to identify the owners of self-custody wallets and to keep documented processes that verify the origin and destination of assets.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><h2 aria-level=\"2\">Why is a well-written policy no longer enough?\u00a0<\/h2><p><span data-contrast=\"auto\">Panelists described the old approach as a \u201cdrawer policy\u201d: a document that exists, but that nobody can show working. Under the new regime, this is not sufficient.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">A functional control produces a trail. For <\/span><a href=\"https:\/\/crystalintelligence.com\/crypto-transaction-monitoring-for-banks\/\"><span data-contrast=\"none\">transaction monitoring<\/span><\/a><span data-contrast=\"auto\">, the trail answers six questions. What alert was generated? Who analyzed it? How long did the analysis take? What decision was made? Who approved it, or who received the escalation? What action followed?<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">The same logic applies across the program. Has the incident response plan been tested, and were failures documented? Is there regular reconciliation between internal records, client assets, and proof of reserves? Do the responsible directors receive reports, question exceptions and record their decisions?<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">This matters now, not only after authorization. The October deadline is for filing, not for completing the process. At filing, the PSAV must already show that controls work in areas such as risk, cybersecurity, AML, sanctions, accounting and audit.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">A useful test came from Patr\u00edcia: If the Central Bank or an auditor asked today for evidence that your controls worked last week, could you provide it quickly, completely and consistently? A strong program lets an auditor reconstruct events without anyone needing to explain them verbally.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">For many firms, this requires a change in governance. Structures that were informal and centered on founders must become formal, with documented responsibilities and controls that can be tested.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><h2 aria-level=\"2\">What makes the travel rule hard in practice?<span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:160,&quot;335559739&quot;:80}\">\u00a0<\/span><\/h2><p><b><span data-contrast=\"auto\">Poll #2<\/span><\/b><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p><p><img decoding=\"async\" class=\"alignnone size-large wp-image-39854 lazyload\" data-src=\"https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/poll-2-results-1024x576.png\" alt=\"\" width=\"1024\" height=\"576\" data-srcset=\"https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/poll-2-results-1024x576.png 1024w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/poll-2-results-300x169.png 300w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/poll-2-results-768x432.png 768w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/poll-2-results-1536x864.png 1536w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/poll-2-results-2048x1152.png 2048w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;\" \/><i><span data-contrast=\"auto\">Above: <\/span><\/i><i><span data-contrast=\"auto\">Only 33% have travel rule data exchange in place, while more than a quarter (27%) haven\u2019t started. With domestic obligations from February 2027, interoperability and attribution work must start now. <\/span><\/i><i><span data-contrast=\"auto\">Source: Crystal Intelligence.<\/span><\/i><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Market understanding of the travel rule has improved quickly in 2026. The concept is now well understood. The practical problems are what remain.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><h2 aria-level=\"2\">Why does protocol interoperability matter?\u00a0<\/h2><p><span data-contrast=\"auto\">Two PSAVs may both be willing to share originator and beneficiary data, but use different messaging protocols that cannot communicate with each other. When this happens, the transfer cannot be completed in a compliant way.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">There are three ways to address this:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><span data-contrast=\"auto\">A PSAV can <\/span><b><span data-contrast=\"auto\">integrate several protocols directly;<\/span><\/b><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><span data-contrast=\"auto\">Use a <\/span><b><span data-contrast=\"auto\">protocol-agnostic travel rule provider<\/span><\/b><span data-contrast=\"auto\"> that connects to multiple protocols via a single integration;<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"8\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;hybridMultilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><span data-contrast=\"auto\">Or it can <\/span><b><span data-contrast=\"auto\">rely on bridges between protocols<\/span><\/b><span data-contrast=\"auto\">, although this option is less mature today.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-contrast=\"auto\">Georgia noted that a setup built on a single protocol limits the number of counterparties a PSAV can reach.<\/span><span data-ccp-props=\"{&quot;335559685&quot;:0}\">\u00a0<\/span><\/p><h2 aria-level=\"2\">How does a PSAV know who controls a wallet address?\u00a0<\/h2><p><span data-contrast=\"auto\">An IBAN identifies a bank. A crypto address does not identify the service that controls it. Before any travel rule message is sent, the PSAV must attribute the destination address to a VASP. Only then can it know which protocol to use.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Attribution depends on blockchain data: historical transaction patterns and known entity clusters. This is why blockchain analytics is part of travel rule readiness, not a separate topic.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><h2 aria-level=\"2\">Why must the travel rule and analytics teams work together?\u00a0<\/h2><p><span data-contrast=\"auto\">Early travel rule implementations in other markets showed a common weakness. The analytics function, which assesses transaction risk, and the travel rule function, which identifies the parties, often worked in isolation. Neither had the full picture.<\/span><\/p><p><span data-contrast=\"auto\">The travel rule identifies who is sending and receiving. On-chain analytics show what risk the funds carry. A compliance decision needs both. Many firms now combine <\/span><a href=\"https:\/\/crystalintelligence.com\/crypto-compliance-solution\/\"><span data-contrast=\"none\">know-your-transaction (KYT) monitoring, address screening<\/span><\/a><span data-contrast=\"auto\">, and travel rule data into a single workflow. Crystal, for example, integrates with travel rule providers so that this information can be reviewed together.<\/span><\/p><p><img decoding=\"async\" class=\"alignnone size-large wp-image-39859 lazyload\" data-src=\"https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/aml-slide-5-1024x576.png\" alt=\"Infographic showing two travel rule implementation deadlines: February 2027 for local markets, February 2028 for international markets.\" width=\"1024\" height=\"576\" data-srcset=\"https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/aml-slide-5-1024x576.png 1024w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/aml-slide-5-300x169.png 300w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/aml-slide-5-768x432.png 768w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/aml-slide-5-1536x864.png 1536w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/aml-slide-5-2048x1152.png 2048w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/576;\" \/><i><span data-contrast=\"auto\">Source: Crystal Intelligence.<\/span><\/i><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">The phased timeline gives the market time to build this. But the international phase depends on factors outside Brazil\u2019s control, especially the pace of regulation in counterpart jurisdictions. Identifying and assessing a foreign counterparty with no defined regulator will remain difficult after 2028.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><h2 aria-level=\"2\">Does using a vendor transfer the risk?\u00a0<\/h2><p><span data-contrast=\"auto\">It does not. The regulated entity remains responsible for its controls, regardless of which provider it chooses. A strong vendor cannot compensate for a weak compliance team, and a weak vendor can still harm a strong one.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Vendor choice still matters, and panelists identified concrete criteria:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Interoperability:<\/span><\/b><span data-contrast=\"auto\"> Does the provider connect to multiple protocols or require one?<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Data portability:<\/span><\/b><span data-contrast=\"auto\"> can configurations, histories and records be exported in a usable form if the PSAV changes provider?<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Continuity:<\/span><\/b><span data-contrast=\"auto\"> Is there redundancy, a contingency procedure and a clear service level during a protocol outage?<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><ul><li aria-setsize=\"-1\" data-leveltext=\"\uf0b7\" data-font=\"Symbol\" data-listid=\"5\" data-list-defn-props=\"{&quot;335552541&quot;:1,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769226&quot;:&quot;Symbol&quot;,&quot;469769242&quot;:[8226],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;\uf0b7&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Sub-supplier dependencies:<\/span><\/b><span data-contrast=\"auto\"> which critical services, such as analytics or VASP identification, does the provider rely on?<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ul><p><span data-contrast=\"auto\">Concentration is a further concern. If the travel rule infrastructure consolidates into a few providers, those providers gain systemic importance. Conflicts of interest can also arise when a service provider is related to a PSAV.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Tools produce signals, not decisions. A counterparty risk rating of red, amber or green requires the PSAV\u2019s compliance team to decide what level of risk it accepts and why.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><h2 aria-level=\"2\">How did PSAVs manage cross-border flows until now?<\/h2><p><span data-contrast=\"auto\">Brazil\u2019s crypto market has long facilitated large volumes of trading with international partners. Compliance practices varied widely. Some firms built strong controls in anticipation of regulation. Others did not.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Gaps in other jurisdictions also limited what was possible, since many counterparts had no travel rule obligations to respond to. The authorization process will now make these differences visible. Firms that are prepared will move through it with less friction. Some others are likely to leave the market.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><h2 aria-level=\"2\">What should PSAVs prioritize next?<span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:160,&quot;335559739&quot;:80}\">\u00a0<\/span><\/h2><p><span data-contrast=\"auto\">The direction is clear: Virtual asset activity is joining markets that the Central Bank already supervises, including foreign exchange and payments, where the travel rule is an established practice. Supervisory expectations will move toward those standards, not away from them.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">We see four priorities for the months ahead:<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><ol><li aria-setsize=\"-1\" data-leveltext=\"%1.\" data-font=\"Arial\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"1\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Test your evidence, not your documents.<\/span><\/b><span data-contrast=\"auto\"> Pick a recent alert and try to reconstruct its full history from records alone.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ol><ol><li aria-setsize=\"-1\" data-leveltext=\"%1.\" data-font=\"Arial\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"2\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Connect identity, travel rule, and on-chain data<\/span><\/b><span data-contrast=\"auto\"> so that compliance decisions draw on all three.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ol><ol><li aria-setsize=\"-1\" data-leveltext=\"%1.\" data-font=\"Arial\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"3\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Map international counterparties by jurisdiction and travel rule<\/span><\/b><span data-contrast=\"auto\"> readiness well before February 2028.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ol><ol><li aria-setsize=\"-1\" data-leveltext=\"%1.\" data-font=\"Arial\" data-listid=\"6\" data-list-defn-props=\"{&quot;335552541&quot;:0,&quot;335559685&quot;:720,&quot;335559991&quot;:360,&quot;469769242&quot;:[65533,0],&quot;469777803&quot;:&quot;left&quot;,&quot;469777804&quot;:&quot;%1.&quot;,&quot;469777815&quot;:&quot;multilevel&quot;}\" data-aria-posinset=\"4\" data-aria-level=\"1\"><b><span data-contrast=\"auto\">Review vendor contracts<\/span><\/b><span data-contrast=\"auto\"> for portability, continuity, and conflicts of interest.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/li><\/ol><h2 aria-level=\"2\">Frequently asked questions<span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:160,&quot;335559739&quot;:80}\">\u00a0<\/span><\/h2><h3 aria-level=\"3\">When is the deadline for PSAV authorization in Brazil?\u00a0<\/h3><p><span data-contrast=\"auto\">PSAVs already operating must file by October 29, 2026, 270 days after the rules came into force. Firms that file on time may keep operating while the BCB reviews the application. Firms that do not file must stop within 30 days.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p><h3 aria-level=\"3\">When does the travel rule apply in Brazil?\u00a0<\/h3><p><span data-contrast=\"auto\">It applies to transfers between PSAVs established in Brazil as of February 2027, and to international transfers as of February 2028.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><h3 aria-level=\"3\">Is using a travel rule provider enough to be compliant?<span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:160,&quot;335559739&quot;:80}\">\u00a0<\/span><\/h3><p><span data-contrast=\"auto\">No. Providers supply tools and data. The PSAV remains responsible for its own controls, risk decisions and accountability to the regulator.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><h3 aria-level=\"3\">What does Resolution 521 require for self-custody wallets?\u00a0<\/h3><p><span data-contrast=\"auto\">PSAVs must identify the owner of a self-custody wallet and keep documented processes to verify the origin and destination of the assets.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p><h3 aria-level=\"3\">What types of PSAV does Resolution 520 define?<span data-ccp-props=\"{&quot;134245418&quot;:true,&quot;134245529&quot;:true,&quot;335559738&quot;:160,&quot;335559739&quot;:80}\">\u00a0<\/span><\/h3><p><span data-contrast=\"auto\">It defines three types: intermediaries, custodians, and brokers of virtual assets. Each carry specific rules.<\/span><\/p><p><img decoding=\"async\" class=\"alignnone size-large wp-image-39863 lazyload\" data-src=\"https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/gianluca-ribiero-quote-landscape-1024x480.png\" alt=\"\" width=\"1024\" height=\"480\" data-srcset=\"https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/gianluca-ribiero-quote-landscape-1024x480.png 1024w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/gianluca-ribiero-quote-landscape-300x141.png 300w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/gianluca-ribiero-quote-landscape-768x360.png 768w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/gianluca-ribiero-quote-landscape-1536x720.png 1536w, https:\/\/crystalintelligence.com\/rohirov\/2026\/10\/gianluca-ribiero-quote-landscape-2048x960.png 2048w\" data-sizes=\"(max-width: 1024px) 100vw, 1024px\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" style=\"--smush-placeholder-width: 1024px; --smush-placeholder-aspect-ratio: 1024\/480;\" \/><\/p><h2 aria-level=\"2\">Conclusion<\/h2><p><span data-contrast=\"auto\">Brazil\u2019s framework brings virtual asset services into the same supervisory logic that applies to banks and foreign exchange institutions. The question for PSAVs is no longer whether they have the right policies, but whether they can prove that those policies work in daily operations and under review.<\/span><span data-ccp-props=\"{&quot;134233117&quot;:false,&quot;134233118&quot;:false,&quot;201341983&quot;:0,&quot;335551550&quot;:1,&quot;335551620&quot;:1,&quot;335559685&quot;:0,&quot;335559737&quot;:0,&quot;335559738&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:278}\">\u00a0<\/span><\/p><p><span data-contrast=\"auto\">Firms that build evidence trails, connect their data, and maintain clear ownership of risk decisions will be well-placed for authorization and the travel rule phases that follow. For the market as a whole, this is a step toward greater maturity and trust.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-7eb7ec57 e-con-full e-flex e-con e-child\" data-id=\"7eb7ec57\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1ff783b elementor-widget elementor-widget-text-editor\" data-id=\"1ff783b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><span class=\"TextRun SCXW99882788 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW99882788 BCX0\">The October 29 filing deadline will separate PSAVs that can prove their controls work from those that <\/span><span class=\"NormalTextRun SCXW99882788 BCX0\">can\u2019t<\/span><span class=\"NormalTextRun SCXW99882788 BCX0\">. Download our <\/span><span class=\"NormalTextRun SCXW99882788 BCX0\">Brazil Crypto Regulation and Risk <\/span><\/span><a class=\"Hyperlink SCXW99882788 BCX0\" href=\"https:\/\/crystalintelligence.com\/resources\/brazil-crypto-regulation-risk-report-2026\/\" target=\"_blank\" rel=\"noreferrer noopener\"><span class=\"TextRun SCXW99882788 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"none\"><span class=\"NormalTextRun SCXW99882788 BCX0\" data-ccp-charstyle=\"Hyperlink\">Report<\/span><\/span><\/a><span class=\"TextRun SCXW99882788 BCX0\" lang=\"EN-US\" xml:lang=\"EN-US\" data-contrast=\"auto\"><span class=\"NormalTextRun SCXW99882788 BCX0\"> 2026 for the regulatory and threat picture, then find the right Crystal <\/span><\/span><a class=\"Hyperlink SCXW99882788 BCX0\" href=\"https:\/\/crystalintelligence.com\/crypto-compliance-solution\/#get_crystal:~:text=Find%20the%20right%20Crystal%20compliance%20plan%20for%20you\" target=\"_blank\" rel=\"noreferrer noopener\"><span 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8px !important;\r\n  font-family: inherit;\r\n  font-size: 18px !important;\r\n  font-weight: 400;\r\n  line-height: 22px;\r\n  min-height: 40px;\r\n  padding: 14px 22px !important;\r\n  text-align: center;\r\n  cursor: pointer;\r\n  transition: all .3s ease;\r\n}\r\n#ci-hs-form .hs-button:hover { filter: brightness(0.95); }\r\n#ci-hs-form .hs-error-msgs {\r\n  list-style: none;\r\n  margin: 6px 0 0;\r\n  padding: 0;\r\n}\r\n#ci-hs-form .hs-error-msg,\r\n#ci-hs-form .hs-error-msgs label {\r\n  color: #d9534f;\r\n  font-size: 13px;\r\n  display: block;\r\n}\r\n#ci-hs-form .submitted-message {\r\n  color: #1f1214;\r\n  font-size: 15px;\r\n  line-height: 1.5;\r\n}\r\n<\/style>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>By Gianluca Rigobello Growth Manager for North and Latin America at Crystal Intelligence Share via: Brazil\u2019s virtual asset service providers (PSAVs) have less than a month to file for authorization with the Central Bank of Brazil (BCB). Under Resolution BCB 520, firms already operating must file by October 29, 2026. Firms that do not file [&hellip;]<\/p>\n","protected":false},"author":28,"featured_media":39848,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-39847","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-thought-leadership"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.6 (Yoast SEO v28.5) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Brazil&#039;s PSAV Compliance: Evidence Matters More Than Policy<\/title>\n<meta name=\"description\" content=\"Brazil\u2019s PSAV compliance filing deadline is soon: Why the BCB will judge compliance on evidence, and what this means for AML &amp; the travel rule\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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