What Other Nations Can Learn

Key takeaways:

• Brazil’s moves are corporate and municipal, not sovereign.

• B3’s spot ETFs and resized 0.01-BTC futures let treasurers gain, size and hedge exposure using familiar tools.

• New VASP standards (licensing, AML/CFT, governance, security), effective February 2026, reduce operational uncertainty.

• Key sequence: Write rules → list plain-vanilla access products → add hedging tools → enforce disclosure.

What’s actually happening in Brazil?

To be clear, Brazil’s National Treasury and central bank are not adding Bitcoin to the country’s…