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Brazil cryptocurrency self-custody reporting regulations

Updated 2 times since CLSTR started tracking revisions of this situation.

What changed

2026-10-02 13:21 UTC → 2026-10-05 20:05 UTC · added removed

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. These reports must be submitted USD to the Council for Financial Activities Control (Coaf) by the following business day. The requirement acts as an “objective, automated threshold trigger,” meaning transactions are reported based on the amount and type regardless of whether the activity is considered suspicious. Following the implementation of these rules, To facilitate this transition, the Central Bank issued Resolution BCB 591, which extends the reporting deadline for specific transactions. Under this new rule, transfers 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. The regulatory environment has also prompted structural changes in the local market. These regulations have triggered significant market shifts. Bity has announced it will cease providing third-party services, such as BityBank and BityPayments, stating that because maintaining a retail brokerage under the new regulations would require “significant investment” that the company prefers not to pursue. investment.” Consequently, Mercado Bitcoin has reached an agreement agreed to acquire Bity’s retail clients, which include 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.

Versions

  1. 2026-10-05 20:05 UTC Brazil cryptocurrency self-custody reporting regulations
  2. 2026-10-02 13:21 UTC Brazil cryptocurrency self-custody reporting regulations
  3. 2026-09-28 23:44 UTC Brazil cryptocurrency self-custody reporting regulations

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