Overview
- The Central Bank confirmed it will advance oversight of institutional VASPs in 2026–2027 and gave incumbent operators 270 days to notify their activities.
- A phased licensing, compliance and supervisory regime is being developed through 2027, according to reports, following input from market participants.
- Officials cite technical complexity, with transactions on decentralized private networks lacking a central broker, as the reason for a tailored approach.
- Companies providing custody, payments or infrastructure—such as Fireblocks, BitGo, Ripple and Wintermute—are cited as in scope, as reported.
- A separate measure reportedly under preparation would levy a 3.5% tax on certain stablecoin flows, while bank participation rules adopted earlier in 2026 indicate coordinated policy momentum.