Itaú Notifies Brazil’s Central Bank of Crypto Services Ahead of Oct. 30 Compliance Deadline
Key Facts
Itaú Unibanco notified Brazil’s central bank on Tuesday of its cryptocurrency trading and custody operations, ahead of the compliance deadline of Oct. 30, 2026, according to a report published by CoinDesk. Itaú, Brazil’s largest private bank, becomes the first bank in the country to formalize these operations under the new rules. The notification does not mean the service is launching now; the bank has operated it since December 2023. The move allows existing services to continue under the new regulatory framework. It comes ahead of the date when institutions supervised by the central bank are barred from dealing with entities that provide virtual asset services without authorization.
Itaú’s service covers 15 crypto assets, including Bitcoin, Ether and USDC, according to CoinDesk. The bank provides trading and custody, but the report said it did not disclose the number of service users or trading volumes. The service began through the íon investment platform on Dec. 4, 2023, when the bank allowed customers to buy and sell Bitcoin and Ether while holding the digital assets in custody. Itaú said at launch that access would be rolled out gradually to app customers. The minimum purchase announced for the first phase was 10 Brazilian reais.
Itaú expanded access to Bitcoin and Ethereum trading on June 10, 2024, to all active customers on the íon platform, after the gradual rollout began the previous year, according to the bank. At the time, it said more than 90% of customers rated the trading experience good or very good. It also reported that 100% of participants in its internal surveys said security was important when buying assets. These figures offer a snapshot of customers’ assessment of the service, but do not show trading volumes or the current number of users. The bank did not publish data on either metric in the latest report.
The regulatory framework distinguishes between banks that are already licensed and specialized virtual asset service providers. Banks that have previously obtained a license from the central bank can follow the notification route to offer cryptocurrency services, while specialized service providers must apply for an operating license. The decision allows commercial banks, investment banks and multiple-service banks, along with specified categories of licensed financial institutions, to provide brokerage and custody services. This distinction makes notification an available route for an established bank, while requiring specialized service providers to apply for a license. The central bank’s deputy governor for regulation said bringing service providers within the scope of regulation, licensing and supervision aims to “provide greater confidence and protection to users of these assets.”
Notification filings must include an independent technical certificate confirming compliance with regulatory requirements, according to CoinDesk. Institutions that miss the deadline must stop providing cryptocurrency services within 30 days of its expiration. In a separate amendment, the central bank postponed to Nov. 6, 2026, the start of a ban on financial institutions, payment institutions and other licensed institutions dealing with entities that provide virtual asset services without authorization. The previous date set for the ban was Oct. 30. The revised timeline sets the notification deadline for existing institutions before the end of October, with the ban then beginning in November.
The central bank amended the rules in September 2026, saying the changes improved operating timelines and the submission of supervisory data. The ban provisions took effect on Oct. 1, 2026, while specified data-submission requirements begin on Jan. 1, 2027. These include reporting transfers to and from self-hosted wallets when their value is equivalent to $10,000 or more. The requirements also cover transfers involving wallets whose owners retain direct control. The regulatory timeline is completed with the data-submission provisions taking effect in January.