Vanessa Faleiros, chief operating officer at Rio Bravo Investimentos: “On Nov. 10, the Brazilian central bank issued regulations governing all services related to the intermediation, custody and brokerage of virtual assets, subjecting these activities and their providers to a level of oversight and protection comparable to that applied to other financial institutions in Brazil. The rules also define which virtual asset activities fall under the foreign exchange market. Tokenized securities remain outside this framework and will continue to be regulated by the Brazilian Securities Commission. The new requirements will take effect in February. Entities currently offering virtual asset services must notify the central bank within 270 days and begin adjusting their operations to obtain an operating license. Consumers will be subject to suitability and anti-money laundering assessments, and virtual assets will carry a defined risk profile. The objective is to evaluate clients’ familiarity with the virtual asset market, their financial goals and risk tolerance. Additionally, all virtual wallets must be recorded in segregated…”