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Brazil’s central bank bans Banco Topázio from crypto-linked forex deals, levies R$16.2M fine

May 13, 2026

< 1 min read

by Hannah Collymore

for CryptoPolitan

Brazil’s central bank bans Banco Topázio from crypto-linked forex deals, levies R$16.2M fine

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Brazil's Banco Topazio was banned for two years from executing foreign exchange crypto transactions and fined R$16.2 million. The action highlights stronger crypto regulation and compliance risk for banks and exchanges in Brazil, potentially constraining fiat-crypto on-ramps and slowing crypto adoption.

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Banco Topazio has been banned for two years in Brazil from executing foreign exchange crypto transactions, along with a R$16.2 million fine.

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