Financial Market: main news from 29/06 to 03/07

The BCB launched, on Tuesday (June 30^th), the digital trade receivables ecosystem, which will gradually replace the physical model with a standardized, interoperable digital system, allowing banks, registries and other participants to share the same information on each transaction. According to Gilneu Vivan, Deputy Governor for Regulation at the Central Bank, the measure aims to reduce fraud, such as the use of the same receivable with multiple institutions and “fake invoices,” while increasing security, transparency and credit supply, especially for SMEs. Mandatory adoption will be phased in as follows: large companies from June 2027, medium-sized companies from December 2027 and small companies from June 2028. For Leandro Vilain, CEO of ABBC, it is “feasible” for the market to reach R$1 trillion in outstanding balance within two or three years. Despite the potential, adaptation remains a challenge: an Accenture study shows that 78% of SMEs have a significant knowledge gap about the new model.

BC launches ecosystem for electronic duplicate invoices

The ecosystem of electronic invoices inaugurates a new level of confidence for receivables, says the director of the Central Bank

Electronic promissory notes could bring the market to R$1 trillion in up to three years, says ABBC

SMEs are not yet ready for the Central Bank's duplicate invoice ecosystem

Cultural change and costs are challenges in implementing electronic invoices, says CNI

The BCB is considering a rule to hold outbound transfers made with stablecoins, (virtual assets pegged to fiat currencies, such as dollar) of US$10,000.00 or more for up to 24 hours. According to the BCB, the precautionary hold aims to mitigate fraud risks and allow virtual asset service providers (VASPs) sufficient time to assess the transaction, the customer’s profile, and the associated risks. However, transfers may be released earlier in accordance with each VASP’s internal risk policies. The proposal would amend BCB Resolution No. 142/2021, which establishes anti-fraud controls for electronic transfers and payment services within the Brazilian Payment System (SPB). Industry associations and other stakeholders had until July 2^nd to submit comments on the proposal. 

Central Bank proposes 24-hour retention of stablecoin for international transfers

Through BCB Resolution No. 580/2026, published on July 1, the BCB incorporated Virtual Asset Service Providers (VASPs) into its existing prudential regulatory framework, as part of the ongoing implementation of Law No. 14,478/2022. Under the Resolution, VASPs are now classified as Type 3 institutions, in line with the principle of "same activity, same risk, same regulation," as emphasized by the BCB. From January 1, 2027, they will have to comply with capital, risk management and information disclosure requirements similar to those applied to securities brokers and dealers. SPSAVs, regardless of size, will be classified under Segment 4 (S4) by June 30, 2028, during a gradual transition period, while institutions classified under Segment 5 (S5) will not be allowed to provide virtual asset services. Experts say the adjustment should increase compliance costs, requiring stronger governance, internal controls, systems and documentation. The sector now awaits a complementary rule from the Central Bank detailing the risk factors applicable to SPSAVs, a topic subject to public consultation aimed at setting limits and capital requirements for this market.

Central Bank establishes prudential framework for companies providing virtual asset services

BCB Resolution No. 580 of 1/7/2026

Central Bank expands rules for cryptocurrency companies

Central Bank equates crypto platform requirements to those of brokerage firms

Central Bank of Brazil (BC) equates crypto platform requirements to those of brokerage firms

On Monday (June 29^th), B3 launched two new Event Contracts linked to Brazil's IPCA inflation index and GDP, expanding its range of instruments for trading macroeconomic expectations. Authorized by the Brazilian Securities and Exchange Commission (CVM) and initially available only to professional investors (those holding more than BRL 10 million in financial assets or a technical certification recognized by the CVM), these products allow investors to trade, directly in a regulated environment, scenarios related to monthly inflation and quarterly economic growth. Although similar to traditional options, the contracts do not allow leverage, limiting losses to the amount invested. Prices range from R$0 to R$100, reflecting the market's implied probability of the event, with a fixed payout at maturity if the forecast materializes. According to B3, the contracts complement existing instruments such as DI Futures and DAP while providing a simpler and more direct way to trade expectations for key economic indicators. They may be used for directional strategies, hedging and tactical positioning, while also serving as a market gauge of expectations for inflation and economic activity. 

B3 launches IPCA and GDP Event Contracts and expands its offering of instruments for trading macroeconomic expectations

B3 takes a new step in the forecasting market with IPCA and GDP contracts

An extraordinary edition of the Official Gazette (DOU) published, on June 29^th, the Provisional Measure No. 1,355/2026, launching a new round of the “Novo Desenrola” debt renegotiation program aimed at informal workers who are current on their payments or up to 90 days overdue on unsecured personal loans. Eligible borrowers may refinance debts of up to R$15,000, provided they have paid at least four installments or are no more than 90 days in arrears, with interest capped at 1.99% per month and backed by the Operations Guarantee Fund (FGO). The repayment period will correspond to the remaining term of the original loan, as follows: up to one month for loans with up to six months remaining, up to two months for loans with six to 12 months remaining, up to four months for loans with 12 to 24 months remaining, and up to six months for loans with more than 24 months remaining. Monthly installments will be capped at 90% of the original payment, and borrowers may obtain additional credit of up to 50% of the outstanding loan balance. Despite the initiative, Febraban and ABBC expect limited participation by financial institutions due to the interest rate cap, eligibility requirements and operational challenges. According to Rogério Ceron, Executive Secretary of the Ministry of Finance, the program could benefit between 200,000 and 500,000 people. So far, only Banco do Brasil and Caixa Econômica Federal have expressed interest in participating.

The government launches the "Desenrola" program for informal workers who are up-to-date on their payments, with interest rates as low as 1.99% per month

Febraban says that participation in the Desenrola Adimplentes program should be limited