Latam: Brazil classifies VASPs, Bolivia devalues 40%, OKX aid

The Central Bank of Brazil issued Resolution No. 580/2026 to classify companies that provide virtual asset services and conglomerates led by those companies as Type 3 institutions. The rule amends Resolutions 436/2024 and 201/2022. From Jan. 1, 2027, firms in the Type 3 category must meet prudential requirements that include capital thresholds, formal risk-management frameworks and expanded information disclosure. The classification places exchanges, custodial services and other virtual asset service providers under the same regulatory rules that apply to securities brokerage, securities distribution and foreign-exchange brokerage firms.

The resolution applies to firms registered or operating in Brazil and to conglomerates led by such firms. Firms will be required to implement formal risk controls and reporting systems used in brokerage businesses. The measure gives companies until the start of 2027 to adapt capital, risk and reporting arrangements.

Bolivia’s Ministry of Economy published Resolution 245 on June 26, ending a fixed exchange-rate regime that had kept the boliviano at 6.96 per U.S. dollar since November 2011. On the first day of floating trading the exchange rate opened at 9.73 bolivianos per dollar, an implied devaluation of about 40 percent. The ministry said the fixed regime was introduced during a period of higher oil export revenues and that those earnings have since declined. The ministry added the policy change aims to encourage other economic sectors to earn dollars, improve the balance of payments and rebuild foreign reserves.

OKX announced emergency aid for residents of La Guaira after twin earthquakes on June 24 that killed more than 2,000 people and caused widespread building collapses. The exchange will grant 20 USDT to each user who provides proof of address showing they reside in La Guaira. On social media, OKX’s Latam account wrote: “We know that these days have been difficult. But we have also seen something extraordinary: the solidarity of Venezuela and the entire international community, which fills us with hope.” The distribution is limited to verified users in the affected state.

Brazil has issued multiple regulations on digital assets and payment systems in recent years. Bolivia’s fixed-rate policy had been in place since 2011 and reflected earlier commodity revenue conditions. Venezuela uses cryptocurrencies for cross-border transfers and remittances, and recent natural disasters have prompted platform-led aid efforts.