Update
Itaú Unibanco Becomes First Bank to Formalize Crypto Brokerage
Itaú Unibanco, Brazil's largest private bank, has notified Brazil's central bank of its cryptocurrency trading and custody operations. The bank, which started offering 15 cryptoassets including Bitcoin, Ethereum, and USDC in December 2023, is the first bank in the country to do so under new digital-asset rules. Itaú Unibanco submitted its notification to the central bank on Tuesday, ahead of an October 30 compliance deadline. The regulatory framework allows banks already authorized by the central bank to follow a notification process for offering crypto services, while dedicated virtual-asset service providers must apply for operating authorization.