巴西已将自己确立为一个对加密友好的拉丁美洲国家

本文讨论了巴西的加密货币法规及其如何确定自己是一个对加密友好的拉丁美洲国家。

Brazil has emerged as a leading crypto-friendly Latin American nation thanks to its balanced policies that support innovation together with regulatory control. While its status as legal tender is still pending, citizens and businesses can use, trade and invest in cryptocurrencies.

巴西已成为领先的加密货币拉丁美洲国家，这要归功于其平衡的政策，该政策支持创新以及监管控制。尽管其作为法定货币的地位仍在审理中，但公民和企业可以使用，贸易和投资加密货币。

This guide explores crucial aspects of Brazilian crypto regulations which investors, businesses and users must understand. These rules facilitate legal operation and tax compliance in the rapidly expanding crypto market.

本指南探讨了巴西加密法规的关键方面，投资者，企业和用户必须理解这些法规。这些规则促进了快速扩展的加密市场的法律运营和税收合规。

Main Regulatory Authorities

主要监管机构

The Central Bank of Brazil (Banco Central do Brasil, BCB) functions as the central authority while the Brazilian Securities and Exchange Commission (Comissão de Valores Mobiliários, CVM) and the Federal Revenue Service (Receita Federal do Brasil, RFB) serve as subsidiary bodies.

巴西中央银行（巴西，BCB）在巴西证券交易委员会（证券委员会，CVM）和联邦税务局（联邦税务局，RFB）担任中央当局。

Historical Context

历史背景

Brazil began its relationship with cryptocurrency with a reserved stance. The BCB released an advisory statement in 2017 to warn about virtual currency risks because they do not carry official support.

巴西开始了与加密货币的关系，并保持了保留的立场。 BCB在2017年发布了一份咨询声明，以警告虚拟货币风险，因为它们不提供官方支持。

However, the regulatory bodies chose not to implement bans, which led to the natural expansion of the industry. The crypto exchange reporting requirements for tax and anti-money laundering purposes were established through RFB Normative Ruling No. 1,888 in 2019.

但是，监管机构选择不实施禁令，这导致了行业的自然扩张。加密货币交易所报告要求对税收和反洗钱目的的目的是通过2019年的RFB规范性裁决1,888建立的。

Law No. 14,478, which established the “Legal Framework for Virtual Assets” under BCB supervision, went into effect in June 2023.

在BCB监督下建立了“虚拟资产的法律框架”第14,478号法律，于2023年6月生效。

Brazil's crypto story is one of initial doubt that transformed into an organized system for cryptocurrency management. This system aims to unite market innovation with financial security measures and crime prevention efforts to become a leading crypto adoption hub in the region.

巴西的加密故事是最初的怀疑之一，它变成了一个有组织的加密货币管理系统。该系统旨在将市场创新与财务安全措施和预防犯罪的努力团结起来，成为该地区领先的加密采用中心。

Regulatory Framework

监管框架

Brazil's crypto oversight relies on the BCB as its central authority, which received its authorization through Law No. 14,478 to oversee Virtual Asset Service Providers including exchanges and custodians. The CVM regulates securities tokens in public offerings yet the RFB manages their taxation aspects.

巴西的加密监督依靠BCB作为其中央当局，该机构通过第14,478号法律获得其授权，以监督包括交流和保管人在内的虚拟资产服务提供商。 CVM在公共产品中规范证券代币，但RFB管理其税收方面。

VASPs need to acquire BCB authorization through Siscoaf registration and corporate governance compliance to operate in Brazil. AML and KYC requirements follow the guidelines of Law No. 9,613/98 by requiring identity checks and transaction monitoring to stop money laundering and terrorism financing activities.

VASP需要通过SISCOAF注册和公司治理合规获得BCB授权，以便在巴西运营。 AML和KYC要求遵循法律指南9,613/98的指南，需要进行身份检查和交易监控以制止洗钱和恐怖主义融资活动。

People who own crypto assets must file annual reports to authorities and face tax rates of 15-22.5% on profits above BRL 35,000 per month. Businesses must fulfil the same reporting duties to the RFB by sending transaction data from their exchanges.

拥有加密资产的人必须向当局提交年度报告，并且面对每月35,000级超过35,000的利润的税率15-22.5％。企业必须通过从交易所发送交易数据来履行RFB的相同报告职责。

ICOs and STOs need to file prospectuses with CVM unless they operate within the CVM regulatory sandbox or the securities' definition does not apply to their offerings. Utility tokens exist outside regulatory oversight unless they become involved in financial criminal activities.

除非ICO和STO在CVM监管沙箱中运行或证券定义不适用于其产品，否则需要向CVM提交招股说明书。公用事业令牌在监管监督之外存在，除非他们参与金融犯罪活动。

The regulatory framework enables both regulatory compliance and structured growth conditions for the crypto industry.

该监管框架可以为加密行业提供监管合规性和结构化增长条件。

Brazil Crypto Policies

巴西加密政策

Brazil supports cryptocurrency use for payments and investments yet it does not establish cryptocurrency as legal tender because the Brazilian Real functions as the official currency.

巴西支持加密货币用于付款和投资，但由于巴西的实际功能作为官方货币，因此并未将加密货币作为法定货币。

Law No. 14,478 established crypto as an official payment option during 2023, which created better conditions for wider adoption.

第14,478号法律在2023年期间建立了加密货币作为正式付款方式，这为更广泛的采用创造了更好的条件。

The Brazilian Central Bank has allowed crypto mining operations under its productive process classification since 2019 while offering tax exemptions on SHA256 mining equipment until December 31, 2025, to encourage mining activities.

自2019年以来，巴西中央银行允许其生产过程分类下的加密矿业开采业务，同时向SHA256采矿设备提供免税，直到2025年12月31日，以鼓励采矿活动。

The Brazilian Central Bank is working on developing its Central Bank Digital Currency “Digital Real” through 2025 pilot programs to expand financial access for all.

巴西中央银行正在通过2025年的飞行员计划开发其中央银行数字货币“数字货币”，以扩大所有人的财务访问。

Failure to comply with regulations leads to harsh legal consequences under Law No. 14,478, which mandates four to eight years of imprisonment for crypto-related fraud and money laundering through virtual assets receive enhanced penalties that reach one-third or two-thirds of the original sentence.

未能遵守法规会导致第14,478号法律造成严重的法律后果，该法律要求通过虚拟资产进行四到八年的监禁，以判处加密相关的欺诈和洗钱，获得了增强的罚款，命中率达到了原始刑期的三分之一或三分之二。

The regulatory framework remains strong due to the fact that unauthorized VASPs face both closure and financial penalties.

由于未经授权的VASP面临封闭和经济处罚，监管框架仍然很强。

Country's Approach to Crypto Innovation

国家的加密创新方法

Brazil fosters crypto innovation through regulatory sandboxes. The CVM's sandbox program has authorized initiatives for tokenized securities trading to develop regulations that suit emerging markets.

巴西通过监管沙盒促进加密创新。 CVM的Sandbox计划已授权为令牌化证券交易计划制定适合新兴市场的法规。

The BCB's Financial and Technological Innovations Laboratory (LIFT) initiated its operations in 2018 to develop blockchain solutions that enhance the National Financial System.

BCB的财务和技术创新实验室（LIFT）于2018年启动了其运营，以开发增强国家金融体系的区块链解决方案。

The adoption of crypto continues to expand as Mercado Bitcoin succeeds in business and retailers adopt crypto payments. The 2024 LAPIN study on digital asset regulation receives support from Ripple as an initiative to advance blockchain development.

随着Mercado Bitcoin在业务中成功，零售商采用加密货币付款，加密货币的采用继续扩大。 2024年关于数字资产监管的Lapin研究获得了Ripple的支持，作为提高区块链开发的主动性。

The combination of regulatory oversight with experimental freedom makes Brazil an innovative center for crypto and blockchain development throughout Latin America.

监管监督与实验自由的结合使巴西成为整个拉丁美洲的创新加密和区块链开发中心。

Notable Challenges and Issues

显着的挑战和问题

The national consistency of Brazil's crypto regulations suffers from enforcement difficulties because of cryptocurrency decentralization which makes AML efforts more challenging due to anonymous transactions.

由于加密货币权力下放，巴西加密法规的全国一致性遭受了执法困难，这使AML由于匿名交易而更具挑战性。

The BCB's March 2025 X posts revealed a proposed stablecoin withdrawal ban to self-custodial wallets which demonstrates the ongoing struggle between regulatory control and user freedom

BCB在2025年3月的X帖子中揭示了拟议的Stablecoin戒断禁令，以证明监管控制与用户自由之间的持续斗争