Revolut handed over documents, verification selfies and customer statements to someone writing from a legitimate government domain. The request was fake. In Brazil, the law lets an administrative authority demand subscriber data without a judge, and the urgency exception widens that door further. What the Brazilian rule limits — and what it doesn't prevent.
The SPA's public consultation closes on 9 September. The text repeals Ordinance 827/2024 in full, replaces two grounds for denial with twelve, and reaches operators that are already licensed.
Art. 91 of BCB Resolution No. 520 does not merely bar trading crypto with an unlicensed provider. The prohibition reaches the opening and maintenance of payment accounts — and anyone who filed an application is still on the inside.
The coverage read Chainalysis's report as escalation. The data says otherwise — and the finding that deserved the headline is a different one: illicit flow doesn't spread out, it piles up in five addresses.
Screening answers a question about the address. What supervisors ask about is who stands behind it — two different questions, with answers that rarely line up.
The deadline cannot be extended and applies to firms already in operation. Those that fail to file have 30 days to wind down — and the clock is already running.
A bureau tells you what someone is today. An investigation tells you what they did, with whom, and how it can be proven. The difference isn't one of depth — it's one of kind.