Brazil's central bank has introduced a new rule requiring a delay of up to 24 hours for cryptocurrency transfers above $10,000 when they are sent to overseas virtual asset service providers or self-custody wallets. The measure is aimed at combating financial fraud and preventing illegal funds from being moved quickly through stablecoins and other crypto assets. The requirement, which applies to both single transfers exceeding $10,000 and daily cumulative transfers above that threshold, is expected to take effect next year. The move follows the bank's April decision to ban the use of cryptocurrencies for settlement in international remittance services. The announcement was reported by Coinpost via Techub News.
Brazil's central bank has rolled out a new rule: cryptocurrency transfers above $10,000 will face a delay of as long as 24 hours when the money is sent to overseas virtual asset service providers or self-custody wallets.
The requirement covers transfers over the $10,000 mark, whether that happens in one transaction or through cumulative transfers made within a single day. The point is simple. Slow down financial fraud and stop illegal money from being shifted fast through stablecoins and other crypto assets.
The new rule is expected to start next year. It comes after the bank's earlier April decision to ban the use of cryptocurrencies for settlement in international remittance services. Techub News published the report, citing Coinpost.
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