Is crypto betting legal in Brazil?

The legality of crypto betting in Brazil is complex and best described as a gray area, leaning towards restricted. While Brazil has recently regulated its online gambling market, the new framework explicitly prohibits the use of cryptocurrencies for betting transactions within the licensed environment.

Normative Ordinance No. 615/2024, which came into effect on January 1, 2025, alongside the broader regulatory framework of Law No. 14,790/2023, mandates that licensed operators cannot accept payments in the form of cryptocurrency. This measure is part of the Brazilian government's strategy to increase transparency and control over the financial flow within the gambling sector, aiming to combat money laundering and other illicit activities.

However, this prohibition applies to the regulated, onshore market. The law does not explicitly penalize individual bettors for using offshore platforms, which may still accept cryptocurrencies. This creates a situation where crypto betting is not explicitly illegal for individuals, but it is not sanctioned within the legal framework of the country, pushing such activities to a legal gray zone.