Normative Instruction No. 739 requires Brazil’s Central Bank to approve the operation of virtual asset service providers only after they submit a “reasonable assurance” independent audit. The audit must be performed by an entity registered with the Brazilian Securities and Exchange Commission (CVM). The report must evaluate legal compliance across institutional policy, organizational structure, and employee training. It must also include internal risk assessment for using products and services to commit money laundering and terrorism financing crimes, plus procedures to know customers. Separately, Mexico and the EU are examining collaboration to curb crypto money laundering across both jurisdictions at the 8th Mexico-EU Summit, alongside a signed trade agreement involving a 5 billion investment in Mexico.
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