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4 clusters · 16 sources · 10 days · First seen · Last updated

Brazil cryptocurrency self-custody reporting regulations

Overview

The Central Bank of Brazil has introduced Resolution BCB No. 588 to regulate cryptocurrency transactions involving self-custody wallets. Effective October 1, 2026, the regulation requires covered financial institutions, payment providers, and virtual asset service providers (VASPs) to report transfers to or from non-custodial wallets that meet or exceed the equivalent of $10,000 USD to the Council for Financial Activities Control (Coaf) by the following business day.

To facilitate this transition, the Central Bank issued Resolution BCB 591, which extends the reporting deadline for specific transactions. Transfers of $10,000 or more between platforms and self-custody wallets, along with cash foreign exchange transactions of the same value, must be reported in January 2027 for operations conducted between October and December 2026.

These regulations have triggered significant market shifts. Bity announced it will cease third-party services, such as BityBank and BityPayments, because maintaining a retail brokerage would require “significant investment.” Consequently, Mercado Bitcoin has agreed to acquire Bity’s retail clients, comprising approximately 850,000 users and over R$1 billion in assets.

Additionally, Binance announced new requirements for international cryptocurrency transfers involving Brazilian users, effective November 1, to comply with Resolution BCB 521/2025. This rule integrates international virtual-asset transfers into Brazil’s foreign exchange framework. Users must declare the purpose of international transactions and identify the counterparty type. For transfers exceeding $50,000 USD, users must select from 96 specific classifications. Users of self-custody wallets may also be required to provide proof of ownership, and failure to comply may result in unprocessed withdrawals or returned deposits.

Entities

Central Bank of Brazil · Banco Central do Brasil · Brazil · Financial Activities Control Council · Binance

Timeline

  1. [BUSINESS] 2 sources
    Binance to implement new crypto transfer rules for Brazil

    Starting November 1, Binance will require Brazilian users to provide transaction purposes and counterparty details for international crypto transfers to comply with Central Bank regulations.

  2. [BUSINESS] 5 sources
    Brazil crypto market shifts as Central Bank updates reporting rules

    Brazil's Central Bank extended reporting deadlines for large crypto transfers to Coaf, while Mercado Bitcoin agreed to take over Bity's retail clients as Bity exits third-party services.

  3. [BUSINESS] 2 sources
    Brazil mandates reporting for crypto transfers exceeding $10,000

    Brazil will require regulated financial institutions to report crypto transfers of $10,000 or more involving self-custody wallets starting October 1, 2026, to enhance anti-money laundering oversight.

  4. [BUSINESS] 7 sources
    Brazil mandates reporting for $10,000+ self-custody crypto transfers

    Brazil's central bank will require financial institutions to report cryptocurrency transfers of $10,000 or more involving self-custody wallets to Coaf to enhance anti-money laundering oversight.

Sources

ambcrypto.com · coinidol.com · criptoinforme.com · criptotendencias.com · crypto-news-flash.com · crypto.news · cryptonewsland.com · cryptoslate.com · diariopampero.com · letsmoney.com.br · livebitcoinnews.com · livecoins.com.br · portaldobitcoin.uol.com.br · valor.globo.com · viagemegastronomia.com.br · world-today-news.com

This summary has been updated 2 times: see revision history