Latam Insights: Brazil Tightens Crypto Regulations, OKX Aids Venezuelans, Bolivia Devalues Currency
Welcome to Latam Insights, a weekly roundup of the most significant crypto developments in Latin America.
Brazil Upgrades Crypto Rules The Central Bank of Brazil has tightened regulations for cryptocurrency companies. On Wednesday, it issued Resolution No. 580/2026, classifying virtual asset service providers and crypto-led conglomerates as Type 3 institutions. This category previously included securities brokerages, distribution firms, and forex brokers. Starting January 1, 2027, crypto firms must meet the same prudential requirements, including risk management, capital requirements, and information disclosure policies.
OKX Offers Direct Aid to Venezuelan Earthquake Victims Following twin earthquakes on June 24, 2026, that killed over 2,000 people and destroyed hundreds of buildings, OKX announced aid for affected Venezuelan users. The exchange will distribute 20 USDT to each user who provides proof of address in La Guaira, the worst-hit state. OKX praised the solidarity of the Venezuelan and international communities.
Bolivia Devalues Boliviano On June 26, Bolivia’s Ministry of Economy issued Resolution 245, adopting a free-floating dollar exchange rate after 15 years of a fixed rate. The rate had been set at 6.96 bolivianos per dollar since November 2011. The new market rate opened at 9.73 bolivianos, representing a nearly 40% devaluation. The ministry acknowledged that the fixed regime had been supported by oil export revenues, which have declined since 2005. The move aims to incentivize other sectors to generate dollars and improve the balance of payments.