💳 Fintech reckoning

Brazilian fintechs are entering a year of tighter regulation, as a series of new rules issued by the Central Bank — along with legislative changes approved by Congress — will take full or partial effect in 2026. Introduced during the course of last year, the measures mark a turning point after more than a decade of comparatively loose oversight that helped fuel rapid growth in the sector.

The regulatory push follows a string of scandals and security breaches that exposed vulnerabilities in Brazil’s financial system. Sweeping police investigations uncovered the presence of organized crime in financial markets, operating through traditional vehicles such as investment funds and fintechs, which benefited from more flexible requirements. At the same time, large-scale hacking attacks targeted key nodes in the technological infrastructure behind Pix, Brazil’s ubiquitous instant-payment system.

Together, these episodes have cast a spotlight on…

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