Regulatory Alerts2026-02-19 | Resolução BCB 549BCB Resolution No. 549 — Amending Annex II to BCB Resolution No. 108 Regarding Administrative Timelines for Economic Activity Licensing
The Board of Directors of the Central Bank of Brazil issued Resolution No. 549 on February 19, 2026, to amend the specific administrative processing timelines for licensing economic activities. The resolution updates Annex II of Resolution No. 108, establishing a 280-day proposal analysis phase and an 80-day implementation analysis phase for various Financial Market Systems. Additionally, it sets a 360-day proposal analysis phase and a 720-day second phase for the authorization of virtual asset service providers operating in Brazil.
Resolution No. 549
BCB RESOLUTION NO. 549, OF FEBRUARY 19, 2026
Amends Annex II to BCB Resolution No. 108, of June 24, 2021, which establishes specific deadlines for the different phases of administrative processes for the release of economic activity within the scope of the Central Bank of Brazil.
The Collegiate Board of the Central Bank of Brazil, in a session held on February 19, 2026, based on the provisions of Article 10, paragraph 4, of Decree No. 10,178, of December 18, 2019, Articles 2, 4, 5, sole paragraph, 7, 8, and 9 of Law No. 14,478, of December 21, 2022, Articles 1 and 2 of Decree No. 11,563, of June 13, 2023, and Article 4 of BCB Resolution No. 519, of November 10, 2025,
RESOLVES:
Art. 1. Annex II to BCB Resolution No. 108, of June 24, 2021, published in the Official Gazette of the Union on June 28, 2021, shall enter into force as per the annex to this Resolution.
Sole Paragraph. The provisions of this Resolution apply to requests for authorization to operate virtual asset service providers filed with the Central Bank of Brazil from the entry into force of BCB Resolution No. 519, of November 10, 2025.
Art. 2. This Resolution enters into force on the date of its publication.
GILNEU FRANCISCO ASTOLFI VIVAN Director of Organization of the Financial System and Resolution
ANNEX TO BCB RESOLUTION NO. 549, OF FEBRUARY 19, 2026
Annex II to BCB Resolution No. 108, of June 24, 2021
Item
Request related to a public act releasing the economic activity requested from the Central Bank of Brazil
Phases
Deadline
(days)
Financial Market Systems – FMS
Operation of a settlement system, including its regulation
Phase 1 - Analysis of the proposal
280
Phase 2 - Analysis of the implementation of the proposal
80
Exercise of the activity of centralized deposit of financial assets, including the system regulation
Phase 1 - Analysis of the proposal
280
Phase 2 - Analysis of the implementation of the proposal
80
Exercise of the activity of registration of financial assets, including the system regulation
Phase 1 - Analysis of the proposal
280
Phase 2 - Analysis of the implementation of the proposal
80
Changes to the system regulation that provide for the inclusion of financial assets in the list subject to centralized deposit
Phase 1 - Analysis of the proposal
280
Phase 2 - Analysis of the implementation of the proposal
80
Changes to the system regulation that provide for the inclusion of financial assets in the list subject to registration
Phase 1 - Analysis of the proposal
280
Phase 2 - Analysis of the implementation of the proposal
80
Changes to the system regulation that provide for the exclusion of financial assets from the list subject to centralized deposit
Phase 1 - Analysis of the proposal
280
Phase 2 - Analysis of the implementation of the proposal
80
Changes to the system regulation that provide for the exclusion of financial assets from the list subject to registration
Phase 1 - Analysis of the proposal
280
Phase 2 - Analysis of the implementation of the proposal
80
Cancellation of authorization for the operation of a settlement system
Phase 1 - Analysis of the proposal
280
Phase 2 - Analysis of the implementation of the proposal
80
Cancellation of authorization for the exercise of activities of centralized deposit of financial assets
Phase 1 - Analysis of the proposal
280
Phase 2 - Analysis of the implementation of the proposal
80
Cancellation of authorization for the exercise of activities of registration of financial assets
Phase 1 - Analysis of the proposal
280
Phase 2 - Analysis of the implementation of the proposal
80
Changes to FMS and their regulations that represent relevant risk to their safety and efficiency, or to the solidity and normal operation of the Brazilian Payments System or the National Financial System
Phase 1 - Analysis of the proposal
280
Phase 2 - Analysis of the implementation of the proposal
80
Virtual Asset Service Providers
Authorization for the operation of virtual asset service provider companies that are already in operation
Phase 1
360
Phase 2
720