Brazilian Central Bank: Banks and brokerages engaging in cryptocurrency activities must hire independent third-party compliance certification

According to Valor, the Central Bank of Brazil (BC) has issued rules for banks and brokerage firms wishing to engage in cryptocurrency activities. The directive requires such institutions to hire a qualified independent company to demonstrate their compliance with the regulatory requirements for virtual asset service providers (PSAV) set by the monetary authority. The certifying entity must clearly indicate that there is no conflict of interest with the audited party.