Brazil's central bank will delay crypto transfers above $10,000 for up to 24 hours when transactions require additional fraud checks. The threshold can apply to individual transactions or com
Brazil’s central bank will delay some cryptocurrency transfers above $10,000 for up to 24 hours, according to Reuters. The anti-fraud rules will begin next year and cover transfers to overseas virtual asset service providers and self-custody wallets. The bank said the measure targets fast movement of fraud proceeds through virtual assets, including stablecoins.
https://twitter.com/WuBlockchain/status/2085938526135386157?s=20The threshold can apply to one transaction or a customer’s total transfers during one day. Therefore, several smaller transfers could face review when their combined daily value exceeds $10,000.
The central bank said other transactions may also face delays under risk-management policies. However, the maximum delay remains 24 hours for transactions requiring additional review.
The measure does not freeze assets, according to the central bank. It also does not permanently block transfers, limiting the action to a temporary delay.
The central bank said the rules respond to growing use of virtual assets in financial fraud. Notably, it identified stablecoins among the assets used to move proceeds quickly.
According to the bank, the delay gives transactions requiring scrutiny additional time before processing. The institution did not provide further details about risk-management procedures.
The announcement came Friday, Aug. 7, as Brazil prepares to implement the rules next year. No specific implementation date was provided in the reported information.
The threshold covers individual transactions and cumulative daily transfers. Users making multiple payments could reach the review threshold without one transfer exceeding $10,000.
The central bank’s action focuses on transfers involving virtual asset firms and self-custody wallets. It also allows further review of other transactions under risk-management rules.
Reuters reported that the bank introduced the measure as part of new anti-fraud requirements for crypto assets. The rules address the speed at which fraud proceeds can move through virtual assets.
The bank stressed that delayed transactions are not permanently stopped. Instead, eligible transfers can remain pending for up to 24 hours while required checks take place.
The information provided does not specify penalties, affected service providers, or procedures users must follow during delays.
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