Brazil: Itaú reportedly notifies central bank of crypto operations, with no new license announced

A reported notification for existing services

Itaú Unibanco submitted a notification to Brazil’s central bank on October 27, 2026, concerning cryptocurrency trading and custody, according to Valor Econômico, cited by CoinDesk the following day. The report concerns formalizing services already offered by the bank. It describes neither the launch of an entirely new business nor the granting of a new license. The reported filing must remain attributed to the press: its complete documentation and acknowledgment of receipt are not published in the sources reviewed.

The report places the step ahead of the October 30 deadline for the regulatory transition period. It notes that Itaú had offered crypto services since December 2023. That history matters in understanding the process: the rules distinguish institutions already authorized to operate and already active in this market from new entrants. Presenting the notification as an initial blanket permission to sell cryptocurrencies would erase that distinction and overstate the reported action.

A separate regime for already authorized institutions

Banco Central do Brasil Resolution 520, effective February 2, 2026, regulates virtual asset service providers. Article 20 identifies categories of authorized financial institutions that can provide intermediation and custody, including several categories of banks and financial intermediaries. The text distinguishes these institutions from specialist virtual asset service companies. The combination of trading and custody described for Itaú must therefore be considered within the corresponding framework, without conflating operator categories.

For eligible institutions already active when the resolution took effect, Article 22 requires formal notification within 270 days. It also requires the results of technical certification by a qualified independent company, under the terms of specific regulation. These are requirements of the general rule. They do not, by themselves, establish exactly what Itaú submitted or whether the supervisor has already validated every document.

Filing does not remove supervisory oversight

The same provision allows the central bank to request additional information to assess the institution’s operations. In the circumstances defined by the text, it also permits the regulator to require operations to cease within 30 days of a regulatory notification. The institution’s own notification should therefore not be presented as a lasting exemption from oversight. The process for specialist companies, which are required to seek authorization, remains separate from this formality for eligible institutions.

The reported new development is Itaú’s notification, rather than a final regulatory decision approving its entire offering. The regulatory texts explain the procedure, while the press reports the bank’s particular filing. Those levels of evidence must remain separate. The next development to document would be public confirmation from the institution or supervisor, including any conditions; no customer count, trading volume, or newly available asset can be inferred from the reported filing alone.