Brazil Bill Threatens to Ban Crypto in Online Betting

A fast-tracked legislative proposal in Brazil is threatening to eliminate cryptocurrencies and virtual assets as payment methods for the country's massive online betting sector. Federal Deputy Aécio Neves met with House President Hugo Motta to formally request urgency for the tramitation of Bill (PL) 3545/2026. The bill, which seeks to amend the existing regulatory framework for fixed-odds betting, strictly prohibits platforms from accepting virtual assets, cryptocurrencies, cash, checks, and credit cards.

The proposed legislation also targets the marketing operations of online betting platforms. If passed, PL 3545/2026 will impose a total ban on bet promotions across mass media, social networks, streaming services, and via digital influencers. The only permitted exception under the new rules would be brand exposure at officially sponsored sporting events, such as inside stadiums or on team jerseys.

This regulatory push comes amid heightened financial volatility in the region, with the Brazilian real and the Bovespa index (IBOV) closely watched by international investors. In the local digital asset market, Bitcoin is trading at BTC/BRL 323,618, while Ethereum stands at ETH/BRL 9,026.5. Analysts warn that restricting payment channels to pre-registered bank transfers and banning credit cards and crypto could significantly impact transaction volumes for major operators in Latin America's largest gaming market.