Brazil's Central Bank Requires Virtual Asset Firms to Let Clients Choose Which Targeted Offers They Receive

The Central Bank of Brazil (BCB) has issued Resolution BCB 602, which requires authorised institutions, including virtual asset service providers (SPSAVs), to let individual clients choose the products and services for which they accept targeted advertising and active offers. The resolution is dated 23 October 2026 and was published in the Official Gazette on 26 October 2026. Its main provisions take effect on 31 March 2027.

Who and What the Rule Covers

The resolution applies to individual advertising and active offers of credit, virtual asset services, foreign exchange and payment services by institutions authorised by the BCB, and to products offered by payment institutions, brokers, securities distributors, virtual asset service providers and consortium administrators. It covers only clients who are natural persons, including sole traders.

Institutions must present the choice prominently in every channel they use for such offers, including websites, apps, instant messages, email, SMS, push notifications and third parties acting on their behalf. If a client makes no choice, the institution may continue to present offers for all products. Clients can revoke their authorisation at any time with immediate effect, and institutions must remind them of that option every six months.

Deadlines and Compliance Duties

Institutions have 120 days from publication to adapt their systems, policies, internal controls and customer channels. They must keep the data, records and documents on these procedures available to the BCB for at least five years and name a director responsible for compliance.

The BCB may issue further rules detailing how authorisations and revocations are obtained in the client journey. Resolution 602 also revokes article 6 of Resolution BCB 567 of 4 May 2026. Articles 11 to 13 took effect on publication; the remaining provisions apply from 31 March 2027.