IBOV 173,371.35 ▼ 0.20% IPSA 10,896.87 ▲ 0.10% IPC MEX 66,615.43 ▲ 0.39% MERVAL 3,223,652 ▲ 0.74% COLCAP 2,298.34 — 0.00% BVL PERÚ 55,645.90 — — USD/BRL5.09▼ 0.38% USD/MXN17.41▼ 0.70% USD/CLP933.60▼ 0.15% USD/COP3,255▼ 0.07% USD/PEN3.39▼ 0.08% USD/ARS1,481▲ 0.17% USD/UYU40.19▼ 0.10% USD/PYG6,031▼ 0.03% USD/BOB10.75▲ 0.94% USD/DOP58.25▲ 0.02% USD/CRC447.35▲ 0.28% USD/GTQ7.62▼ 0.05% USD/HNL26.74— 0.00% USD/NIO 36.62 — 0.00% USD/VES735.09▼ 0.13% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD157.79▲ 0.13% USD/TTD6.73▼ 0.21% EUR/BRL5.81▼ 0.55% BRENT 88.93 ▲ 0.94% WTI 82.49 — 0.00% IRON ORE 161.91 — — COPPER 6.36 ▲ 2.22% GOLD 4,022 ▲ 0.23% SILVER 56.81 ▲ 1.37% SOY 1,224 ▲ 1.60% CORN 471.25 ▲ 5.96% WHEAT 678.00 ▼ 0.70% COFFEE 323.50 ▼ 1.51% SUGAR 14.81 ▼ 0.13% ORANGE JUICE 146.90 ▲ 6.30% COTTON 78.88 ▲ 2.35% COCOA 5,507 ▼ 0.47% BEEF 223.30 ▼ 0.50% CATTLE 346.78 ▲ 0.24% LITHIUM 66.92 ▼ 2.14% PETR4 41.15 ▲ 0.61% VALE3 71.93 ▼ 1.38% ITUB4 42.30 ▲ 0.81% BBDC4 18.41 ▲ 0.66% ABEV3 15.79 ▲ 1.02% BBAS3 20.17 ▼ 1.56% B3SA3 15.26 ▲ 0.39% WEGE3 43.13 ▼ 1.15% PRIO3 57.69 ▼ 0.28% SUZB3 41.89 ▼ 0.10% RENT3 37.49 ▼ 1.94% AZZA3 18.17 ▼ 2.26% CSAN3 3.82 ▼ 0.52% RAIZ4 0.27 ▼ 6.90% PCAR3 2.60 — 0.00% GMAT3 3.85 ▼ 0.77% PSSA3 54.20 ▼ 1.70% CVCB3 1.08 ▼ 11.48% POSI3 3.70 ▼ 2.63% SLCE3 13.57 ▲ 0.30% NATU3 8.63 ▲ 0.94% BRKM5 5.94 ▼ 4.04% RANI3 7.99 ▲ 0.50% CSNA3 5.07 ▲ 0.40% CMIN3 5.39 ▲ 1.13% USIM5 8.16 ▼ 0.85% GGBR4 23.62 ▼ 1.75% ENEV3 25.65 ▼ 0.12% CPFE3 46.32 ▼ 1.17% CMIG4 11.02 ▼ 0.90% EQTL3 39.29 ▼ 0.53% LREN3 13.31 ▼ 0.82% VIVT3 35.67 ▲ 0.42% RAIL3 13.57 ▼ 0.95% KLABIN 17.48 ▼ 0.57% RAIA DROGASIL 18.69 ▲ 0.75% RDOR3 35.45 ▼ 0.92% HAPV3 11.55 ▲ 1.49% FLRY3 16.56 ▼ 0.18% SMTO3 15.41 ▼ 0.26% UGPA3 31.70 ▼ 1.15% VBBR3 34.11 ▼ 2.32% BBSE3 41.05 ▼ 0.17% BPAC11 55.84 ▼ 0.61% CURY3 30.19 ▼ 1.57% AERI3 2.07 ▲ 2.48% VIVARA 21.96 ▼ 2.14% COMPASS 24.60 ▼ 1.13% VAMOS 3.09 ▼ 2.52% SANB11 27.01 ▲ 1.35% ASAI3 8.14 ▼ 4.24% SBSP3 28.98 ▼ 0.82% WALMEX 49.38 ▼ 0.22% GMEXICO 201.45 ▲ 0.42% FEMSA 226.85 ▲ 0.49% CEMEX 21.81 ▼ 4.05% GFNORTE 180.00 ▼ 0.74% BIMBO 59.31 ▲ 2.26% TELEVISA 9.71 ▲ 1.46% AMX 22.74 ▼ 1.13% GAP 378.19 ▼ 2.02% ASUR 274.37 ▼ 1.91% OMA 226.42 ▼ 1.82% KOF 180.95 ▲ 0.11% GRUMA 287.60 ▲ 0.39% KIMBER 38.39 ▼ 0.72% SQM-B 63,400 ▼ 3.13% COPEC 6,345 ▲ 1.53% BSANTANDER 78.90 ▲ 2.47% FALABELLA 5,850 ▲ 0.26% ENELAM 84.67 ▲ 0.75% CENCOSUD 2,005 ▲ 0.50% CMPC 1,088 ▲ 1.68% BANCO CHILE 189.95 ▲ 0.77% LATAM AIR 24.36 ▼ 1.62% YPF 79,200 ▲ 1.67% GGAL 7,845 ▼ 0.19% PAMPA 5,270 ▲ 1.93% TXAR 670.50 ▲ 0.98% ALUAR 959.50 ▲ 1.05% TGS 9,500 ▲ 1.39% CEPU 2,289 ▲ 1.10% MIRGOR 17,125 ▲ 1.48% COME 42.95 ▼ 2.03% LOMA NEGRA 3,558 ▲ 0.99% BYMA 293.75 ▼ 1.34% TELECOM ARG 4,145 ▼ 0.12% ECOPETROL 16.04 ▼ 0.34% BANCOLOMBIA 80.82 ▲ 0.51% GRUPO AVAL 4.95 ▲ 0.61% CREDICORP 386.85 ▼ 0.96% SOUTHERN COPPER 175.07 ▲ 1.50% BUENAVENTURA 30.06 ▼ 0.60% MERCADOLIBRE 1,832 ▲ 1.02% NUBANK 13.99 ▲ 2.94% XP 16.80 ▲ 0.78% PAGSEGURO 9.29 ▲ 2.77% STONE 11.12 ▼ 0.27% GLOBANT 32.29 ▲ 0.19% TECNOGLASS 46.11 ▼ 0.80% GAP AIRPORT 217.12 ▼ 1.72% ASUR 274.37 ▼ 1.91% OMA AIRPORT 104.01 ▼ 1.23% AMX ADR 26.10 ▼ 0.65% FEMSA ADR 130.01 ▲ 0.77% CEMEX ADR 12.49 ▼ 3.70% PETROBRAS ADR 18.19 ▲ 1.22% VALE ADR 14.10 ▼ 0.63% ITAU ADR 8.32 ▲ 1.46% SANTANDER BR 5.38 ▲ 2.67% AMBEV ADR 3.08 ▲ 1.65% CSN 1.01 ▲ 2.02% GERDAU 4.68 ▼ 0.85% LATAM ADR 51.74 ▼ 1.56% BTC 65,447 ▲ 1.17% ETH 1,913 ▲ 2.24% SOL 78.17 ▲ 2.38% XRP 1.12 ▲ 1.86% BNB 573.17 ▲ 0.48% ADA 0.17 ▲ 3.32% DOGE 0.07 — 0.00% AVAX 6.61 ▲ 2.39% LINK 8.62 ▲ 2.99% DOT 0.83 ▲ 1.32% LTC 47.41 ▲ 0.78% BCH 220.90 ▲ 2.80% TRX 0.33 ▼ 0.19% XLM 0.19 ▲ 0.28% HBAR 0.07 ▲ 0.78% NEAR 1.99 ▲ 4.15% ATOM 1.50 ▲ 1.49% AAVE 90.49 ▲ 1.30% SELIC 14.25% EMBRAER 83.29 ▲ 1.88% EMBRAER ADR 65.93 ▲ 2.87% JBS 12.03 ▲ 1.01% JBS BDR 60.79 ▲ 0.98% MBRF3 14.52 ▼ 3.39% MBRFY 2.91 — 0.00% INTER 5.62 ▲ 4.66% EGX 53,126 ▲ 1.08% USD/ZAR16.51▼ 0.23% USD/NGN 1,376 — 0.00% NIKKEI 64,638 ▲ 0.77% CSI300 4,598 ▲ 1.53% HSI 25,143 ▲ 2.36% NIFTY 24,239 ▼ 0.39% KOSPI 6,460 ▼ 0.87% JCI 6,232 ▲ 0.91% USD/JPY162.50▲ 0.05% USD/CNY 6.7574 — 0.00% DAX 24,847 ▲ 0.06% CAC 8,340 ▲ 0.02% FTSE 10,525 ▼ 0.71% MIB 51,863 ▼ 0.04% IBEX 19,207 ▼ 0.05% STOXX 639.60 ▼ 0.30% EUR/USD1.14▼ 0.07% GBP/USD1.34▼ 0.10% SPX 7,443 ▼ 0.19% DJI 51,839 ▼ 0.59% NDX 28,604 ▲ 0.04% RUT 2,942 ▼ 0.67% TSX 34,960 ▼ 0.86% VIX 18.65 ▼ 0.64% USD/CAD1.41▲ 0.40% US10Y 4.5980 ▲ 1.26% IBOV 173,371.35 ▼ 0.20% IPSA 10,896.87 ▲ 0.10% IPC MEX 66,615.43 ▲ 0.39% MERVAL 3,223,652 ▲ 0.74% COLCAP 2,298.34 — 0.00% BVL PERÚ 55,645.90 — — USD/BRL 5.09 ▼ 0.38% USD/MXN 17.41 ▼ 0.70% USD/CLP 933.60 ▼ 0.15% USD/COP 3,255 ▼ 0.07% USD/PEN 3.39 ▼ 0.08% USD/ARS 1,481 ▲ 0.17% USD/UYU 40.19 ▼ 0.10% USD/PYG 6,031 ▼ 0.03% USD/BOB 10.75 ▲ 0.94% USD/DOP 58.25 ▲ 0.02% USD/CRC 447.35 ▲ 0.28% USD/GTQ 7.62 ▼ 0.05% USD/HNL 26.74 ▲ 0.00% USD/NIO 36.62 — 0.00% USD/VES 735.09 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.79 ▲ 0.49% USD/TTD 6.73 ▲ 0.96% EUR/BRL 5.81 ▼ 0.55% BRENT 88.93 ▲ 0.94% WTI 82.49 — 0.00% IRON ORE 161.91 — — COPPER 6.36 ▲ 2.22% GOLD 4,022 ▲ 0.23% SILVER 56.81 ▲ 1.37% SOY 1,224 ▲ 1.60% CORN 471.25 ▲ 5.96% WHEAT 678.00 ▼ 0.70% COFFEE 323.50 ▼ 1.51% SUGAR 14.81 ▼ 0.13% ORANGE JUICE 146.90 ▲ 6.30% COTTON 78.88 ▲ 2.35% COCOA 5,507 ▼ 0.47% BEEF 223.30 ▼ 0.50% CATTLE 346.78 ▲ 0.24% LITHIUM 66.92 ▼ 2.14% PETR4 41.15 ▲ 0.61% VALE3 71.93 ▼ 1.38% ITUB4 42.30 ▲ 0.81% BBDC4 18.41 ▲ 0.66% ABEV3 15.79 ▲ 1.02% BBAS3 20.17 ▼ 1.56% B3SA3 15.26 ▲ 0.39% WEGE3 43.13 ▼ 1.15% PRIO3 57.69 ▼ 0.28% SUZB3 41.89 ▼ 0.10% RENT3 37.49 ▼ 1.94% AZZA3 18.17 ▼ 2.26% CSAN3 3.82 ▼ 0.52% RAIZ4 0.27 ▼ 6.90% PCAR3 2.60 — 0.00% GMAT3 3.85 ▼ 0.77% PSSA3 54.20 ▼ 1.70% CVCB3 1.08 ▼ 11.48% POSI3 3.70 ▼ 2.63% SLCE3 13.57 ▲ 0.30% NATU3 8.63 ▲ 0.94% BRKM5 5.94 ▼ 4.04% RANI3 7.99 ▲ 0.50% CSNA3 5.07 ▲ 0.40% CMIN3 5.39 ▲ 1.13% USIM5 8.16 ▼ 0.85% GGBR4 23.62 ▼ 1.75% ENEV3 25.65 ▼ 0.12% CPFE3 46.32 ▼ 1.17% CMIG4 11.02 ▼ 0.90% EQTL3 39.29 ▼ 0.53% LREN3 13.31 ▼ 0.82% VIVT3 35.67 ▲ 0.42% RAIL3 13.57 ▼ 0.95% KLABIN 17.48 ▼ 0.57% RAIA DROGASIL 18.69 ▲ 0.75% RDOR3 35.45 ▼ 0.92% HAPV3 11.55 ▲ 1.49% FLRY3 16.56 ▼ 0.18% SMTO3 15.41 ▼ 0.26% UGPA3 31.70 ▼ 1.15% VBBR3 34.11 ▼ 2.32% BBSE3 41.05 ▼ 0.17% BPAC11 55.84 ▼ 0.61% CURY3 30.19 ▼ 1.57% AERI3 2.07 ▲ 2.48% VIVARA 21.96 ▼ 2.14% COMPASS 24.60 ▼ 1.13% VAMOS 3.09 ▼ 2.52% SANB11 27.01 ▲ 1.35% ASAI3 8.14 ▼ 4.24% SBSP3 28.98 ▼ 0.82% WALMEX 49.38 ▼ 0.22% GMEXICO 201.45 ▲ 0.42% FEMSA 226.85 ▲ 0.49% CEMEX 21.81 ▼ 4.05% GFNORTE 180.00 ▼ 0.74% BIMBO 59.31 ▲ 2.26% TELEVISA 9.71 ▲ 1.46% AMX 22.74 ▼ 1.13% GAP 378.19 ▼ 2.02% ASUR 274.37 ▼ 1.91% OMA 226.42 ▼ 1.82% KOF 180.95 ▲ 0.11% GRUMA 287.60 ▲ 0.39% KIMBER 38.39 ▼ 0.72% SQM-B 63,400 ▼ 3.13% COPEC 6,345 ▲ 1.53% BSANTANDER 78.90 ▲ 2.47% FALABELLA 5,850 ▲ 0.26% ENELAM 84.67 ▲ 0.75% CENCOSUD 2,005 ▲ 0.50% CMPC 1,088 ▲ 1.68% BANCO CHILE 189.95 ▲ 0.77% LATAM AIR 24.36 ▼ 1.62% YPF 79,200 ▲ 1.67% GGAL 7,845 ▼ 0.19% PAMPA 5,270 ▲ 1.93% TXAR 670.50 ▲ 0.98% ALUAR 959.50 ▲ 1.05% TGS 9,500 ▲ 1.39% CEPU 2,289 ▲ 1.10% MIRGOR 17,125 ▲ 1.48% COME 42.95 ▼ 2.03% LOMA NEGRA 3,558 ▲ 0.99% BYMA 293.75 ▼ 1.34% TELECOM ARG 4,145 ▼ 0.12% ECOPETROL 16.04 ▼ 0.34% BANCOLOMBIA 80.82 ▲ 0.51% GRUPO AVAL 4.95 ▲ 0.61% CREDICORP 386.85 ▼ 0.96% SOUTHERN COPPER 175.07 ▲ 1.50% BUENAVENTURA 30.06 ▼ 0.60% MERCADOLIBRE 1,832 ▲ 1.02% NUBANK 13.99 ▲ 2.94% XP 16.80 ▲ 0.78% PAGSEGURO 9.29 ▲ 2.77% STONE 11.12 ▼ 0.27% GLOBANT 32.29 ▲ 0.19% TECNOGLASS 46.11 ▼ 0.80% GAP AIRPORT 217.12 ▼ 1.72% ASUR 274.37 ▼ 1.91% OMA AIRPORT 104.01 ▼ 1.23% AMX ADR 26.10 ▼ 0.65% FEMSA ADR 130.01 ▲ 0.77% CEMEX ADR 12.49 ▼ 3.70% PETROBRAS ADR 18.19 ▲ 1.22% VALE ADR 14.10 ▼ 0.63% ITAU ADR 8.32 ▲ 1.46% SANTANDER BR 5.38 ▲ 2.67% AMBEV ADR 3.08 ▲ 1.65% CSN 1.01 ▲ 2.02% GERDAU 4.68 ▼ 0.85% LATAM ADR 51.74 ▼ 1.56% BTC 65,447 ▲ 1.17% ETH 1,913 ▲ 2.24% SOL 78.17 ▲ 2.38% XRP 1.12 ▲ 1.86% BNB 573.17 ▲ 0.48% ADA 0.17 ▲ 3.32% DOGE 0.07 — 0.00% AVAX 6.61 ▲ 2.39% LINK 8.62 ▲ 2.99% DOT 0.83 ▲ 1.32% LTC 47.41 ▲ 0.78% BCH 220.90 ▲ 2.80% TRX 0.33 ▼ 0.19% XLM 0.19 ▲ 0.28% HBAR 0.07 ▲ 0.78% NEAR 1.99 ▲ 4.15% ATOM 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Tuesday, July 21, 2026

Brazil Politics and Society

Brazil Big-Tech Decrees Advance as Opposition Fights Back

By · July 20, 2026 · 3 min read

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Brazil · Politics

Key Facts

The rules. President Lula signed decrees making digital platforms administratively responsible for illegal content posted by users.

The change. Platforms must remove content flagged as illegal after an out-of-court notice, without waiting for a prior court order.

For women and girls. A second decree requires dedicated channels and two-hour removal for real nudity or AI-made fake images.

The pushback. Big tech firms issued a joint note against the measures and asked the Supreme Court to review them.

The politics. The opposition has filed at least 25 bills to overturn the decrees, in an election year.

Brazil is moving to hold social-media companies to account for what their users post, and the fight over it is escalating. The Brazil big-tech decrees shift legal responsibility onto the platforms, and are advancing despite objections from the industry, legal scholars and the opposition.

Lula’s Social-Media Decrees Advance in Brazil as the Opposition Fights Back. (Photo internet reproduction)
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President Luiz Inácio Lula da Silva signed the measures, which tighten oversight of the platforms and change how quickly they must act on complaints, as Gazeta do Povo reported.

What the decrees change

The core shift is liability. Under the main decree, technology companies can be held administratively responsible for illegal third-party content, and must take down posts deemed unlawful after an extrajudicial notice, rather than waiting for a judge’s order as before.

A second decree targets image-based abuse. It obliges platforms to offer dedicated reporting channels for real nudity or AI-generated fakes involving women and girls, and to remove such content within two hours of a valid complaint.

Why critics are worried

Legal experts warn the rules risk “overblocking”, pushing platforms to delete anything in a grey area, including lawful opinion and legitimate criticism, to avoid penalties. They also flag higher compliance costs and the strain on smaller providers expected to meet the same obligations as the largest firms.

The industry has responded in force. Major technology companies issued a joint statement against the decrees and asked Brazil’s Supreme Court to review them, according to Correio Braziliense, arguing the government is regulating the internet by decree rather than through Congress.

An election-year flashpoint

The timing sharpens everything. With a presidential election approaching, content moderation has become a proxy battle over free speech and state power. The opposition has already filed at least 25 legislative proposals to strike the decrees down, while Congress has reacted without resolving the underlying question of how far Brazil can regulate global platforms.

For foreign observers, Brazil is once again a test case: a large democracy trying to impose rules on American tech giants, and the legal and political friction that follows.

Frequently Asked Questions

What do Lula’s decrees require?

They make digital platforms administratively responsible for illegal user content and require removal after an out-of-court notice. A separate decree mandates two-hour removal of real or AI-generated intimate images of women and girls.

Why do critics oppose them?

They warn of “overblocking” of lawful speech, higher compliance costs, and the burden on small providers. Big tech firms have asked the Supreme Court to review the measures, arguing the internet should be regulated by Congress, not decree.

Can the decrees be overturned?

The opposition has filed at least 25 bills to reverse them, and the Supreme Court has been asked to review them. Their future is contested, and the fight is unfolding in an election year.

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