Itaú Unibanco Reports Crypto Trading and Custody Business to the Central Bank of Brazil

Brazilian private bank Itaú Unibanco has reported its crypto trading and custody business to the Central Bank of Brazil. The Central Bank's Resolution No. 520 came into effect on February 2, allowing authorized financial institutions to provide crypto services through a notification process, while specialized virtual asset service providers must apply for operational authorization. Itaú will offer 15 types of crypto assets, including Bitcoin, Ethereum, and USDC, under brokerage categories corresponding to trading and custody rules. The service is set to launch in December 2023, with the number of clients and trading volume undisclosed. Those who fail to submit on time must cease services within 30 days. The Central Bank has extended the deadline for prohibiting crypto business with unauthorized providers to November 6.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.