Brazil targets crypto fraud with up to 24-hour transfer hold
60-second summary
Brazil's new regulations target crypto fraud by imposing a 24-hour transfer hold on transactions above $10,000 sent to overseas providers or self-custody wallets, as well as other flagged transfers, effective January 1, 2027. This move aims to curb illicit activities and money laundering, potentially impacting Brazilian crypto users' overseas transactions and exchange rates.
The rules, effective Jan. 1, 2027, cover transactions above $10,000 sent to overseas providers or self-custody wallets, along with other transfers flagged for review.